In letter of credit transactions, a ________ is necessary for the shipper to obtain payment from the bank:

Question

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A Clean, On-Board, Order Bill of Lading is necessary in letter of credit transactions for the shipper to obtain payment from the bank. This document certifies that goods have been loaded on board a shipping vessel and are in good condition, and it is made out to the order of a specific entity, allowing for the transfer of ownership by endorsement.

In Letter of Credit Transactions, a ________ Is Necessary for the Shipper