DOCUMENTARY CREDIT Definition

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DOCUMENTARY CREDIT is an arrangement by banks for settling international business transactions. A letter of credit is a form of documentary credit.

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GILT is a bond issued by the UK government. Gilts are equivalent to a U.S. Treasury security.

NON-CASH EXPENSE is that expense which is recognized within the financial statements without actual cash being disbursed (e.g., depreciation, amortization, and write-offs).

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