„Restricted Letter of Credit“
What does Restricted Letter of Credit stand for?
A letter of credit which restricts negotiation to the bank the issuing bank has nominated in the credit.
Source:
Financial and BankingView all itemsJames E. Byrne, Dan Taylor. (2008). “The International Banking System: A Guide for Bankers and Students of Finance”. Dan Taylor & Co Publishers. pp. 215-217.