A ____ is issued by a bank upon request of an importer stating that the bank will pay an amount of money to a stated beneficiary.
A) license
B) letter of credit
C) bill of lading
D) draft
E) voucher

Question

Quizplus · Accepted Answer

A letter of credit is a document issued by a bank that guarantees payment to the beneficiary on behalf of the importer. It specifies the amount, terms, and conditions under which payment will be made.

A ____ Is Issued by a Bank Upon Request of an Importer