Confidence level is a degree of confidence expressed as percents like 90%, 95% and 99% prior assigned to the data before the confidence interval is calculated.
In modern business practice, a letter of credit (LC) also known as a Documentary Credit, is a written commitment by a bank issued after a request by an importer (foreign buyer) that payment will be made to the beneficiary (exporter) provided that the terms and conditions stated in the LC been met, as evidenced by the presentation of specified ...
Letter of credit (Documentary Letter Of Credit (L/C, DLC) is the bank's obligation to pay the seller of goods or services a certain amount of money in the timely submission of documents confirming shipment of goods or performance of contractual services.