信用证是银行的一种凭证。它向卖方保证，如果卖方按协议将货物装运完毕的话，买方即可付款。另一方面，它也向买方保证，如果卖方未将货物装运完毕，买方不必付款。信用证在交易中为买卖双方提供保障。
【正确答案】：The letter of credit is the bank instrument that assures the person selling merchandise of payment if he makes the agreed - upon shipment. On the other hand, it also assures the buyer that he is not required to pay until the seller ships the goods. It provides the buyer and the seller with mutual protection in dealing with each other.
