A letter of credit is:
A) a guarantee from the importer's bank that is will act on behalf of the importer and pay the exporter for the merchandise if all relevant documents are presented.
B) is a written order instructing the importer or his agent to pay the amount specified on its face on a certain date.
C) is a document issued by the common carrier specifying that it has received the goods for shipment.
D) is a negotiable money market instrument for which a secondary market exists.
Correct Answer:
Verified
Q6: The term "countertrade" refers to:
A) many different
Q7: Which of the following financial support mechanisms
Q8: Which forms of countertrade involve immediate use
Q10: International trade is more difficult and risky
Q12: The term "forfaiting":
A) means relinquishing, waiving, yielding,
Q12: The three basic documents needed in a
Q13: If the importing bank's acceptance commission is
Q14: A form of barter in which the
Q16: The _ sends a purchase order to
Q16: A direct exchange of goods between two
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