an order issued by a banker allowing a person named to draw money to a specified amount from correspondents of the issuer.
an instrument issued by a banker authorizing a person named to make drafts upon the issuer up to an amount specified.
a letter issued by a bank entitling the bearer to draw funds up to a specified maximum from that bank or its agencies
a letter addressed by a bank instructing the addressee to allow the person named to draw a specified sum on the credit of the addressor bank

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  • Letter of intent

    noun 1. a letter indicating that the writer has the serious intention of doing something, such as signing a contract in the circumstances specified. It does not constitute either a promise or a contract noun a document declaring the intentions of the writer, esp. to enter into a formal agreement

  • Letter of introduction

    noun 1. a letter given by one person to another, as an introduction to a third party

  • Letter-of-marque

    noun 1. license or commission granted by a state to a private citizen to capture and confiscate the merchant ships of another nation. noun 1. a licence granted by a state to a private citizen to arm a ship and seize merchant vessels of another nation 2. a similar licence issued by a nation allowing […]

  • Letter of the law

    The precise wording rather than the spirit or intent. For example, Since it was the first time he’d broken the rules, the school decided to ignore the letter of the law and just give him a warning. [ Late 1500s ]

  • Letter-perfect

    [let-er-pur-fikt] /ˈlɛt ərˈpɜr fɪkt/ adjective 1. knowing one’s part, lesson, or the like, perfectly. 2. precise or exact in every detail; verbatim. adjective 1. another term (esp in the US) for word-perfect

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