In a typical international trade transaction, the
A) exporter should obtain a letter of credit to initiate transactions.
B) importer and exporter maintain an account with the same bank.
C) importer's bank sends a letter of credit to the exporter's bank.
D) importer's bank sends the draft and bill of lading to the exporter's bank.

Question

Quizplus · Accepted Answer

In a typical international trade transaction, the importer's bank sends a letter of credit to the exporter's bank. The exporter's bank advises the exporter of the opening of a letter of credit in his favor.

In a Typical International Trade Transaction, the