Forfaiting Glossary:
Definition results for your selection are shown below.
L/C:
Documentary Letter of Credit.
Leasing:
The use of goods in exchange for periodic rentals paid to the owner.
Letter of Credit:
Any arrangement whereby a bank (the issuing bank) acting at the request and on the instructions of a customer (the applicant for the credit) is to make payment to or to the order of a third party (the beneficiary), or is to pay or accept bills of exchange, drawn by the beneficiary.
LIBOR:
London Inter Bank Offered Rate.
Lome Convention:
A comprehensive aid and trade agreement, normally renewed every five years - Lome III expired in 1990, Lome IV has been signed and will take effect from 1991 - between the European Community and countries in Africa, the Caribbean and the Pacific (the ACP countries).