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Standby letter of credit (SBLC): Operates like a commercial letter of credit, except that typically it is retained as a standby instead of being the intended payment mechanism. In other words, this is an LC which is intended to provide a source of payment in the event of non-performance of contract.
Credit (from Latin verb credit, meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date ...
Root Meaning in English Origin language Etymology (root origin) English examples cac-, kak-[1]bad: Greek: κακός (kakós), κάκιστος (kákistos): cachexia ...
Etymology (/ ˌ ɛ t ɪ ˈ m ɒ l ə dʒ i /, ET-im-OL-ə-jee [1]) is the study of the origin and evolution of words—including their constituent units of sound and meaning—across time. [2] In the 21st century a subfield within linguistics , etymology has become a more rigorously scientific study. [ 1 ]
General ledger is the term for the comprehensive collection of T-accounts (it is so called because there was a pre-printed vertical line in the middle of each ledger page and a horizontal line at the top of each ledger page, like a large letter T). Before the advent of computerized accounting, manual accounting procedure used a ledger book for ...
A circular letter of credit issued by Baring Brothers to US Senator George Hoar for £1000, a very large sum of money in 1892.. A circular letter of credit was a letter of credit issued by a bank or related financial institution to a private person, usually an individual of means, which enabled that person to draw funds from correspondent banks while traveling.
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Psychology is the scientific study of mind and behavior. [1] [2] Its subject matter includes the behavior of humans and nonhumans, both conscious and unconscious phenomena, and mental processes such as thoughts, feelings, and motives. Psychology is an academic discipline of immense scope, crossing the boundaries between the natural and social ...