A document which is drawn by the buyer's bank at the buyer's request,and guarantees that the bank will pay the agreed-on amount when all prescribed conditions,such as satisfactory delivery,have been completed,is called a:

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A letter of credit is a document issued by a buyer's bank at the buyer's request, which serves as a guarantee that the bank will pay the agreed-on amount to the seller when all prescribed conditions, such as satisfactory delivery, have been completed. This provides assurance to the seller that they will receive payment for their goods or services. A bill of exchange is a negotiable instrument, similar to a check, used in international trade transactions. A bill of material is a document that lists the materials needed to manufacture a product. A sight draft is a type of bill of exchange that is payable on demand. A letter of exchange is another term for a bill of exchange.

A Document Which Is Drawn by the Buyer's Bank at the Buyer's