The letter of credit
A) states that the bank will pay a specified sum of money to a beneficiary on presentation of particular,specified documents.
B) is an order written by an exporter instructing an importer to pay a specified amount of money at a specified time.
C) serves as a receipt,a contract,and a document of title.
D) indicates that the carrier has received the merchandise described on the face of the document.
Correct Answer:
Verified
Q72: When a letter of credit is used
Q73: What is the drawback for the importer
Q74: Why does a letter of credit reduce
Q75: Which of the following is an advantage
Q76: A party initiating a draft is known
Q78: In international trade,the supplier (exporter)of a good
Q79: The text suggests that exporting is not
Q80: International trade often occurs between parties who
Q81: In some cases,the Ex-Im Bank grants loans
Q82: A _ is issued to the exporter
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents