The English name “letter of credit” derives from the French word “accreditif”, a power to do something, which in turn is derivative of the Latin word “accreditivus”, meaning trust. S.‘The Application of the Letter of Credit Form of Payment in International Business Transactions’ (2001) 10 Int’l Trade L.J. p. 37. In effect, this reflects the modern understanding of the instrument. When a seller agrees to be paid by means of a letter of credit, the creditor/seller is looking at a reliable bank that has an obligation to pay the amount stipulated in the credit notwithstanding any defence relating to the underlying contract of sale. This is as long as the seller performs their duties to an extent that meets the requirements contained in the LC.