„Unconfirmed Letter Of Credit“
What does Unconfirmed Letter Of Credit stand for?
A type of letter of credit bearing the obligation of the issuing bank only, not of any other bank.
Source:
Financial and BankingView all itemsScott B. MacDonald, Michael Valdez; “A Strategic Approach to International Trade”
(NY, Praeger, 1998), pp. 145-147.