In an international sales transaction,a buyer obtains a commitment from the issuing bank to advance a specified amount upon receipt,from a carrier,of a(n)______.

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In an international sales transaction, a buyer obtains a commitment from the issuing bank to advance a specified amount upon receipt, from a carrier, of a bill of lading, stating that the goods have been shipped. The issuing bank's commitment to pay is given, not to a seller directly, but to a confirming bank located in the United States from which the seller obtains payment.

In an International Sales Transaction,a Buyer Obtains a Commitment from the Issuing