L

Letter of Credit (L/C)

American term for documentary credit. In the United States, the terms D/C can often be confused for documentary collection.

Letter of Hypothecation

A promise to hold goods as security taken from customers who are granted loans against goods imported on a collection basis.

Loan Against Imports (LAI)

Loans granted to import customers for payment of bills.

M

Master Credit

In back-to-back operations, the original export credit against which the second credit is opened

Maturity

Due date of payment of a usance bill or promissory note.