What is Letter of Credit (LOC)

Terms

DO YOU HAVE A PRODUCT
WE SHOULD KNOW ABOUT?

National Network of DSD Distributors & Retail Owners

Mr. Checkout is a network of over 1,100 independent distributors and 50,000 independent retail owners across the USA, parts of Canada and the Caribbean. Distributors and independent retail owners use Mr. Checkout to find new products that are ready for retail and can handle rapid growth through independent channels.

 

 

 

 

Define Letter of Credit (LOC)

A method of payment for goods in which the buyer established his credit with a local bank, clearly describing the goods to be purchased, the price, the documentation needed, and a time limit for completion of the transaction. Upon receipt of documentation, the bank is either paid by the buyer or takes title to the goods themselves and proceeds to transfer funds to the seller.

 

Ready To Get Started?

 

DistributorNational Network of DSD Distributors & Retail Owners

Mr. Checkout is a network of over 1,100 independent distributors and 50,000 independent retail owners across the USA, parts of Canada and the Caribbean. Distributors and independent retail owners use Mr. Checkout to find new products that are ready for retail and can handle rapid growth through independent channels.