circular letter of credit
Credit Cred"it (kr[e^]d"[i^]t), n. [F. cr['e]dit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See {Creed}.] 1. Reliance on the truth of something said or done; belief; faith; trust; confidence. [1913 Webster]

When Jonathan and the people heard these words they gave no credit unto them, nor received them. --1 Macc. x. 46. [1913 Webster]

2. Reputation derived from the confidence of others; esteem; honor; good name; estimation. [1913 Webster]

John Gilpin was a citizen Of credit and renown. --Cowper. [1913 Webster]

3. A ground of, or title to, belief or confidence; authority derived from character or reputation. [1913 Webster]

The things which we properly believe, be only such as are received on the credit of divine testimony. --Hooker. [1913 Webster]

4. That which tends to procure, or add to, reputation or esteem; an honor. [1913 Webster]

I published, because I was told I might please such as it was a credit to please. --Pope. [1913 Webster]

5. Influence derived from the good opinion, confidence, or favor of others; interest. [1913 Webster]

Having credit enough with his master to provide for his own interest. --Clarendon. [1913 Webster]

6. (Com.) Trust given or received; expectation of future playment for property transferred, or of fulfillment or promises given; mercantile reputation entitling one to be trusted; -- applied to individuals, corporations, communities, or nations; as, to buy goods on credit. [1913 Webster]

Credit is nothing but the expectation of money, within some limited time. --Locke. [1913 Webster]

7. The time given for payment for lands or goods sold on trust; as, a long credit or a short credit. [1913 Webster]

8. (Bookkeeping) The side of an account on which are entered all items reckoned as values received from the party or the category named at the head of the account; also, any one, or the sum, of these items; -- the opposite of {debit}; as, this sum is carried to one's credit, and that to his debit; A has several credits on the books of B. [1913 Webster]

{Bank credit}, or {Cash credit}. See under {Cash}.

{Bill of credit}. See under {Bill}.

{Letter of credit}, a letter or notification addressed by a banker to his correspondent, informing him that the person named therein is entitled to draw a certain sum of money; when addressed to several different correspondents, or when the money can be drawn in fractional sums in several different places, it is called a {circular letter of credit}.

{Public credit}. (a) The reputation of, or general confidence in, the ability or readiness of a government to fulfill its pecuniary engagements. (b) The ability and fidelity of merchants or others who owe largely in a community. [1913 Webster]

He touched the dead corpse of Public Credit, and it sprung upon its feet. --D. Webster. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • circular letter of credit — See letter of credit …   Big dictionary of business and management

  • circular letter of credit — see letter of credit …   Useful english dictionary

  • circular letter of credit — A letter authorizing one person to pay money or extend credit to another on the credit of the writer. Pines v. United States, C.C.A.Iowa, 123 F.2d 825, 828. See also letter of credit …   Black's law dictionary

  • circular letter of credit — A letter authorizing one person to pay money or extend credit to another on the credit of the writer. Pines v. United States, C.C.A.Iowa, 123 F.2d 825, 828. See also letter of credit …   Black's law dictionary

  • circular letter of credit — /ˌsɜ:kjυlə ˌletər əv kredɪt/ noun a letter of credit sent to all branches of the bank which issues it …   Marketing dictionary in english

  • circular letter of credit — /ˌsɜ:kjυlə ˌletər əv kredɪt/ noun a letter of credit sent to all branches of the bank which issues it …   Dictionary of banking and finance

  • Letter of credit — Credit Cred it (kr[e^]d [i^]t), n. [F. cr[ e]dit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See {Creed}.] 1. Reliance on the truth of something said or done; belief; faith; trust;… …   The Collaborative International Dictionary of English

  • letter of credit — documentary credit A letter from one banker to another authorizing the payment of a specified sum to the person named in the letter on certain specified conditions (see letter of indication). Commercially, letters of credit are widely used in the …   Big dictionary of business and management

  • letter of credit — documentary credit A letter from one banker to another authorizing the payment of a specified sum to the person named in the letter on certain specified conditions. Commercially, letters of credit are widely used in the international import and… …   Accounting dictionary

  • letter of credit — Synonyms and related words: CD, IOU, MO, Pastoral Epistle, acceptance, acceptance bill, aerogram, air letter, airgraph, bank acceptance, bank check, bill, bill of draft, bill of exchange, billet doux, blank check, bull, certificate, certificate… …   Moby Thesaurus

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