credit payable by a trader
... Anticipatory L/C预支信用证 Credit payable by a trader商业付款信用证 Credit payable by a bank银行付款信用证 ...
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开证行用自身可靠的银行信用取代买方的商业信用，承担信用证项下第一性付款责任，构成了信用证制度存在的基础。
Issuing bank substituting the buyer's commercial credit for reliable bank credit itself, and undertaking the first-payment liability, has constituted the foundation of letter of credit system.
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