a letter of credit in our favour

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roseriver1012

Member
Joined
Dec 21, 2009
Member Type
Student or Learner
Native Language
Chinese
Home Country
China
Current Location
China
White intends to order some products from Smith, which is the background. Here is part of the conversation below:

White: When will the goods reach me? Smith: We could ship your order within ten days upon receiving your payment.
White: So yo require payment in advance? Smith: Yes. You could transfer the payment into our bank account or open a letter of credit in our favor.


​What does the underlined part mean? Thanks for help.
 
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