Series 53: Direct Pay Letter Of Credit

Taken from our Series 53 - MSRB Municipal Securities Principal Qualification Exam

Definition of the term Direct Pay Letter Of Credit...

a form of credit enhancement in which the beneficiary is allowed to draw on a letter of credit without first contacting an issuer and before any failure to make a timely payment takes place.

Since you're reading about Series 53: Direct Pay Letter Of Credit, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 53
Please Enable Javascript
to view this content!