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TeachMeFinance.com - explain Bill of Credit bill of credit -- the written request of an individual to his or her depository institution asking it to deliver money to the bearer of the request, with the money drawn from the individual's deposit account, or advanced on the individual's credit. another definition... Bill of Credit -- A written authority from one person to another, empowering the recipient of the document to receive money from the correspondents of the issuer abroad . (The usual issuer is a bank) historic definition... Bill of credit -- A written request to the one to whom it is addressed to give credit to the bearer on the voucher or security of the writer. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.