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| letter of credit with deferred payment option (Ying); deferred payment letter of credit (Ying) | |||
| deferred payment letter of credit (A letter of credit that is paid a fixed number of days after shipment or presentation of prescribed documents. It is used where a buyer and a seller have a close working relationship because, in effect, the seller is financing the purchase by allowing the buyer a grace period for payment. Alexander Demidov) | |||