Hardhat Machine Company sold goods to Irish Eyes Company of Northern Ireland.Big Bank issued a letter of credit on behalf of Irish Eyes and the letter was given to Hardhat.The "account party" is:

Question

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The account party is the party that owes payment to the beneficiary of a letter of credit. In this case, Irish Eyes is the account party and owes payment to Hardhat Machine Company. Big Bank is the issuing bank and not the account party. Hardhat Machine Company is the beneficiary and not the account party.

Hardhat Machine Company Sold Goods to Irish Eyes Company of Northern