See Also: Sight Letter of Credit(money)
Sight Letter of Credit(finance)
letter of credit(dictionary)
Letter of Credit (LOC)(finance)
Letter of credit (LOC)(money)
Letter of Credit(money)
Transferable letter of credit(finance)
Confirmed Letter of Credit(money)
Revocable letter of credit(money)
Usance Letter of Credit(finance)

retainer(1) (iou) and Sight Letter of Credit (money)


retainer(1) (iou)



retainer noun1. LME.
[from RETAIN + -ER4.]
Chiefly Law. The action or fact of retaining something for oneself; an authorization to do this. Now rare. LME.
a. Engagement of a person esp. as a servant; Entertainment or maintenance of a dependant or adherent. LME-M17.
b. The fact of being retained in a particular capacity. L18.
c. An authorization given to an attorney to act in a case. Chiefly US. E19.
a. A fee paid to secure the Services of someone, esp. a barrister; engagement by such a fee. L18.
b. A sum paid to secure a particular service or facility; spec. a reduced rent paid to retain accommodation during a period of non-occupancy. M19.

Sight Letter of Credit (money)


Definition: [crh] A letter of credit made payable to a beneficiary upon presentation to the opener of conforming documents.