What is another word for commercial letter of credit?
Pronunciation: [kəmˈɜːʃə͡l lˈɛtəɹ ɒv kɹˈɛdɪt] (IPA) 
A commercial letter of credit is an important document used in international trade transactions. However, it can be referred to using various synonyms based on its characteristics or usage. Some of the synonyms for a commercial letter of credit include documentary credit, import/export letter of credit, standby letter of credit, and revolving letter of credit among others. Documentary credit refers to a letter of credit that contains specific documents regarding the trade transaction, while an import/export letter of credit is used specifically for import and export businesses. Standby letter of credit is mainly used to provide assurance to beneficiaries of payment by the issuing bank, while revolving letter of credit is designed for ongoing trade activities between the parties involved.
