Back–to–Back
2 definitions

Back–to–Back

A new letter of credit issued to another beneficiary on the strength of a primary credit. The second L/C uses the first L/C as collateral for the bank. Used in a three–party transaction.

Back–to–Back

A new letter of credit issued to another beneficiary on the strength of a primary credit. The second L/C uses the first L/C as collateral for the bank. Used in a three–party transaction.

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Back–to–Back has been defined 2 different ways in documents like Shipping Terminology, Shipping Terminology.

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