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Glossary   >   L   >   "Letter of credit (LOC)" Definition            Letter of credit (LOC) A form of guarantee of payment issued by a bank used to guarantee the payment of interest and repayment of principal on bond issues. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Letter of credit (LOC) - A form of guarantee of payment issued by a bank used to guarantee the payment of interest and repayment of principal on bond issues.