ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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STANDBY LETTER OF CREDIT Definition
STANDBY LETTER OF CREDIT is a guarantee of payment. If the beneficiary does not get paid from its customer it can then demand payment from the customers Bank by forwarding the copy of the invoice that was not paid along with predetermined supporting documentation.
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ADVISING BANK is a bank in the exporters country handling a letter of credit.
DIVIDEND YIELD is the annual rate of return, expressed as a percentage, on an investment.