A ________ is a promise by a bank to pay a foreign firm a certain amount of money if specific conditions are met.

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A letter of credit is a promise by a bank to pay a foreign firm a certain amount of money if specific conditions are met, such as the delivery of goods or services. It acts as a guarantee of payment, reducing the risk for both the buyer and seller in international trade transactions. Currency exchange refers to the conversion of one currency into another, financial advisement is advice given to clients on financial matters, and a banker's acceptance is a type of financial instrument used by businesses to guarantee payments in the future.

A ________ Is a Promise by a Bank to Pay