Maple Importers Inc wants to buy food items manufactured by Plovidiv Fruit Processors Inc, a Bulgarian producer of jams, preserves, and other fruit- based products. In the typical transaction, Maple Importers Inc will request that its bank open a letter of credit in favour of itself so that it can pay for the imports from Bulgaria.

Question

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In a typical transaction, the letter of credit would be opened in favor of the seller, Plovidiv Fruit Processors Inc, to ensure they receive payment once they fulfill the terms of the sale.

Maple Importers Inc Wants to Buy Food Items Manufactured by Plovidiv