A ________ is an instrument issued by a bank or another person at the request of an account party that obliges the issuer to pay to a beneficiary a sum of money within a certain period of time upon the beneficiary's presentation of documents specified by the account party.
A) bill of lading
B) cashier's check
C) certificate of deposit
D) letter of credit
Correct Answer:
Verified
Q65: Which of the following financial institutions of
Q66: Which of the following would be an
Q67: What are the requirements placed on the
Q68: Explain the role of the advising bank
Q69: What is a bearer paper?
Q70: What is an endorsement? What are the
Q72: _ is a type of countertrade in
Q73: In a _ letter of credit, a
Q74: Describe the ways in which a bill
Q75: What are the consequences of not obtaining
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents