„Merchant's Credit“

A form of commercial letter of credit which the buyer, with no commitment on the part of a bank, sends to the seller via a bank in the district of the buyer. The seller presents his bill of sale and evidence of shipment in order to obtain payment from the buyer.

Kyung Hee Lee, Jose Godinez, (2009). “International Trade: New Patterns of Trade, Production & Investment”. 2nd Edition, Routledge Publishing, pp. 283-286.