An instrument issued by a bank, at the request of an importer, in which the bank promises to pay a beneficiary upon presentation of specified documents is a
A) time certificate of deposit.
B) time draft.
C) sight draft.
D) letter of credit.
Correct Answer:
Verified
Q30: The _ is the instrument normally used
Q32: Which of the following is NOT a
Q33: In a letter of credit, the bank
Q34: An exporter has just received a banker's
Q36: The disadvantages of a letter of credit
Q37: A straight bill of lading is most
Q38: Most drafts in international trade are "clean."
Q39: The person or company initiating the draft
Q39: A bill of exchange or draft drawn
Q40: A _ is issued to the exporter
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