When the Seller's bank guarantees payment under the letter of credit issued by buyer's bank it becomes a(n):

Name: When the Seller's bank guarantees payment under the letter of credit issued by buyer's bank it becomes a(n):
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When the Seller's bank guarantees payment under the letter of credit issued by buyer's bank, it becomes a confirmed letter of credit. In a confirmed letter of credit, the seller's bank adds its guarantee to the letter of credit, making payment more secure for the seller.

When the Seller's Bank Guarantees Payment Under the Letter of Credit