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LSDefine

Simple English definitions for legal terms

usance credit

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A quick definition of usance credit:

Usance credit is a type of letter of credit that allows the beneficiary to receive payment at a later date, usually after a certain period of time has passed. It is a promise made by a bank to pay the beneficiary on behalf of the customer, as long as certain conditions are met. This type of credit is often used in international trade, where the buyer and seller may not be in the same country and need time to complete the transaction.

A more thorough explanation:

Usance credit is a type of letter of credit that allows the beneficiary to receive payment at a later date, usually after a specified period of time. It is also known as a time letter of credit.

For example, if a company in the United States wants to buy goods from a supplier in China, they may use a usance credit to pay for the goods. The supplier ships the goods and presents the necessary documents to the bank, which then pays the supplier. The company in the United States then has a specified period of time to pay back the bank.

Usance credits are commonly used in international trade to provide a way for buyers and sellers to do business without having to pay for goods upfront.

usage | USA Patriot Act

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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