What does LOC mean in International Business?

This page is about the meanings of the acronym/abbreviation/shorthand LOC in the Business field in general and in the International Business terminology in particular.

Letter Of Credit

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What does LOC mean?

letter of credit(noun)
a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit

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"LOC." Abbreviations.com. STANDS4 LLC, 2017. Web. 23 Oct. 2017. <http://www.abbreviations.com/term/30820>.