Letter of Credit
Letter from a bank authorizing payment of a certain sum to a person or company (beneficiary) upon submission of papers verifying the L/C terms
Letter of Credit Account
A bank account for payments effected by the client to a third party, who is duly authorized to get the amounts paid, when observing certain terms, as set in the L/C.
Agreed amount granted to a borrower under contracted terms and interest rate. Loans can also be effected in the form of a bill of exchange, promissory notes, and commercial instruments, similar to bills.
Lent amount of money, granted by a bank or a financial institution to an individual or a company under contracted terms of repayment and security. The loan can be a credit, revolving, overdraft facility or other form.
Part of company's capital which is a loan from an outside source and which has to be repaid at a later date; this can be also issued bills.
Agreement with a bank for granting a loan facility (amount) to a borrower under contracted terms, while the borrower shall utilize the extended amount as agreed and shall repay it in due time together with the accrued interest.
Interest paid by a borrower to a lender on the money granted in the form of a loan facility.
The net amount of a loan, lended by a bank, on which interest is accrued.
Local debit card
A debit card, issued by a local bank and which can be used only on the territory of Bulgaria.
Loan which will be repaid in more than three-years term.