A letter-of-credit agreement between Rural Grain Corporation and Soy Farm Inc. requires Rural's bank to pay Soy on receipt of invoices. This is

Name: A letter-of-credit agreement between Rural Grain Corporation and Soy Farm Inc. requires Rural's bank to pay Soy on receipt of invoices. This is
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A letter-of-credit agreement is a formal contract because it is a written agreement between parties that specifies the obligations of each party, including the bank's obligation to pay upon receipt of invoices.

A Letter-Of-Credit Agreement Between Rural Grain Corporation and Soy Farm