In a ________ letter of credit, a credit is obtained by a seller naming the buyer as the beneficiary.

Name: In a ________ letter of credit, a credit is obtained by a seller naming the buyer as the beneficiary.
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In a standby letter of credit, the credit acts as a guarantee that the seller will receive payment as promised, making the buyer the beneficiary in case the buyer fails to fulfill the payment obligations. This type of letter of credit is essentially a safety net for the seller.

In a ________ Letter of Credit, a Credit Is Obtained