Irrevocable written obligation of the bank to make a payment on behalf of its client (principal) in favor of a third party (beneficiary) - a certain amount of money in accordance with the terms of this obligation.
Trading platform
Irrevocable written obligation of the bank to make a payment on behalf of its client (principal) in favor of a third party (beneficiary) - a certain amount of money in accordance with the terms of this obligation.
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