Letter of Credit
A document issued by a bank guaranteeing the payment of a customer’s draft up to a stated amount for a specific period, provided that specified conditions are met.
Welcome to our Chargebacks Glossary! This page is your go-to resource for understanding the terminology used in the chargebacks industry. Whether you're a merchant, financial institution, or consumer, our glossary provides clear definitions of key terms, from "Acquirer" to "Zero Liability Policy."
A document issued by a bank guaranteeing the payment of a customer’s draft up to a stated amount for a specific period, provided that specified conditions are met.
