$LTC typically refers to "Letter of Credit," a financial document issued by a bank to guarantee payment for goods or services. It ensures that the seller will receive payment for the goods they ship, as long as the terms and conditions specified in the letter are met. The buyer's bank issues the LTc on behalf of the buyer, providing security for both parties involved in the transaction. This financial instrument is widely used in international trade, where it helps reduce the risk of fraud and assures the seller that payment will be made once the goods have been delivered.