What is FREELY NEGOTIABLE LETTER OF CREDIT?

An L/C marked ‘freely negotiable’. No single bank binds the holder to negotiations. Any bank can be select for this.

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Related Legal Terms
FREELY NEGOTIABLE CREDIT, LETTER OF CREDIT (L/C), CONFIRMED IRREVOCABLE LETTER OF CREDIT (L/C), RESTRICTED LETTER OF CREDIT, STANDBY LETTER OF CREDIT, REVOLVING LETTER OF CREDIT (L/C), UNRESTRICTED LETTER OF CREDIT, EXPLODING LETTER OF CREDIT, ACCEPTANCE LETTER OF CREDIT (L/C), RED CLAUSE LETTER OF CREDIT (L/C)


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