A typical letter of credit transaction consists of a contractual relationship between:

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A typical letter of credit transaction involves a contractual relationship among multiple parties: the buyer and its bank (which issues the letter of credit), the issuing bank and the seller (who benefits from the letter of credit), and the issuing bank and the corresponding bank (which may advise or confirm the letter of credit). Thus, all the options listed are part of the contractual relationships in a letter of credit transaction.

A Typical Letter of Credit Transaction Consists of a Contractual