The Banking Act of The Republic of China Article 16
The term "letter of credit" as used in this Act shall refer to an instrument which a bank, mandated by a customer, notifies and authorizes a designated beneficiary to issue a bill of exchange or other certificates, in accordance with a prescribed form and in an amount not exceeding a certain limit, to be accepted or paid by the bank or its designated correspondent upon the beneficiary’s performance of agreed terms and conditions.
中文原文 銀行法第16條
本法稱信用狀，謂銀行受客戶之委任，通知並授權指定受益人，在其履行約定條件後，得依照一定款式，開發一定金額以內之匯票或其他憑證，由該行或其指定之代理銀行負責承兌或付款之文書。