The traveler's letter of credit is usually used by
A) purchasing agents making purchases in foreign countries.
B) individuals traveling abroad.
C) importers' banks.
D) correspondent banks, in order to reduce shipment of gold between countries.
Correct Answer:
Verified
Q99: In the field of foreign trade, the
Q100: Before arbitragers take action with respect to
Q101: A promise of future payment issued by
Q102: A statement by a bank guaranteeing acceptance
Q103: The attitude of central banks and commercial
Q105: An unconditional order for the payment of
Q106: Loans by an exporter's bank based on
Q107: The maturity of a banker's acceptance arising
Q108: In effect, the commercial letter of credit
Q109: A domestic importer ordering foreign merchandise from
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