A ________ represents an unconditional agreement by a bank to pay a specified amount at a particular time.

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A banker's acceptance represents an unconditional agreement by a bank to pay a specified amount at a particular time. A certified trade acceptance is similar to a banker's acceptance but requires documentation of the underlying trade transaction. A letter of credit is a document issued by a bank to guarantee payment to a seller, but it is conditional on the seller meeting certain requirements. A guaranteed funds agreement is not a commonly used term in banking.

A ________ Represents an Unconditional Agreement by a Bank to Pay