When a confirmed letter of credit is used, the exporting firm gains because
A) the government in effect subsidizes shipping costs.
B) the time involved in shipping is generally reduced.
C) the firm can sell against the promise of a local bank rather than a firm.
D) the exporting firm is considered of higher risk.
Correct Answer:
Verified
Q23: Which of the following purposes is NOT
Q23: The three parties to a letter of
Q25: Which of the following documents is NOT
Q26: _ drafts are unaccompanied by any other
Q27: A banker's acceptance is a _ that
Q32: Which of the following is NOT a
Q33: In a letter of credit, the bank
Q35: The draft is the instrument normally used
Q37: A straight bill of lading is most
Q39: The person or company initiating the draft
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