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Glossary of the 1993 SNA - Definition of Term

TermLetters of credit
DefinitionLetters of credit are promises to make payment only when certain documents specified by contract are presented.
Paragraphs11.25.
 
It is acknowledged that this glossary uses descriptions of the OECD glossary of statistical terms, the Glossary of the System of National Accounts 1993 and the UN classifications registry.
 
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