Which of the following stands at the center of international commercial transactions and is issued by a bank at the request of an importer?
A)Bill of lading
B)Time draft
C)Letter of credit
D)Sight draft
E)Bill of exchange

Question

Quizplus · Accepted Answer

A letter of credit stands at the center of international commercial transactions. Issued by a bank at the request of an importer, the letter of credit states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents.

Which of the Following Stands at the Center of International