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A letter of credit is a financial instrument, usually issued by a bank, which guarantees the seller will receive payment for goods sold to a foreign customer. Credit. NACM Learning Center. Nancy Watson-Pistole CCE. CICP. Definition. A letter of Commercial (documentary) letters of credit (LC) are a written.What is it used for? Letters of credit are used to minimize risk in international trade transactions where the buyer and the seller may not know one another. If Benefits of a Letter of Credit To The Exporter/Seller. Letters of credit open doors to international trade by providing a secure mechanism for payment upon