Bill Of Credit

written notice given by a bank to a customer that authorizes another bank to give him credit (based on security promised by the primary bank)

It is provided by the Constitution of the United States, Art. I, Sec. X, that no state shall 'emit bills of credit, or make anything but gold and silver coin a tender in payment or debts.' Such bills of credit are declared to mean promissory notes or bills issued exclusively on the credit of the state, and for the payment of which the faith of the state only is pledged. The prohibition, therefore, does not apply to the notes of a state bank drawn on the credit of a particular fund set apart for the purpose. Bills of credit may be defined to be paper issued and intended to circulate through the community for its ordinary purposes as money redeemable at a future day.

This phrase is used in another sense - among merchants it is a letter sent by an agent or other person to a merchant desiring him to give credit to the bearer for goods or money.

Eng: bill of credit
Urdu: اعتباری ہنڈی ۔ جہاں بھروسہ سے بل جمع کروایہ جاتا ہے ۔ (امریکی تاریخ) ساکھ دار ہُنڈی ۔