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That is to say, a letter of credit is a payment method used to discharge the legal obligations for payment from the buyer to the seller, by having a bank pay the seller directly. Thus, the seller relies on the credit risk of the bank, rather than the buyer, to receive payment.
Indulgence. In the teaching of the Catholic Church, an indulgence ( Latin: indulgentia, from indulgeo, 'permit') is "a way to reduce the amount of punishment one has to undergo for (forgiven) sins". [1] The Catechism of the Catholic Church describes an indulgence as "a remission before God of the temporal punishment due to sins whose guilt has ...
Purchase order request. A purchase order request or purchase requisition is a request sent internally within a company to obtain purchased goods and services, including stock. The request is a document which tells the purchasing department or manager exactly what items and services are requested, the quantity, source and associated costs.
Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and ...
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .
Alphabetical order is a system whereby character strings are placed in order based on the position of the characters in the conventional ordering of an alphabet.It is one of the methods of collation.
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