L/C eliminates credit risk if the bank that opens it is of good standing. It also increases the risk that payment will be delayed or withheld owing to exchange controls or other political acts.

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The Answer of L/C eliminates credit risk if the bank that opens it is of good standing. It also increases the risk that payment will be delayed or withheld owing to exchange controls or other political acts.

L/C Eliminates Credit Risk If the Bank That Opens It