Which of the following is not true regarding letters of credit?
A) They are issued by banks on behalf of the importer promising to pay the exporter.
B) A revocable letter of credit can be cancelled or revoked at any time without prior notification to the beneficiary.
C) They guarantee that the goods shipped are the goods purchased.
D) All of the above are true.
Correct Answer:
Verified
Q32: All types of foreign trade transactions in
Q33: Under a letter of credit arrangement, the
Q34: The _ is a private corporation owned
Q35: A(n) _ letter of credit is not
Q36: A _ is an unconditional promise drawn
Q38: As part of Ex-Imbank's export credit insurance
Q39: The Direct Loan Program is administered by
Q40: Under a(n) _ arrangement, the exporter ships
Q41: In an open account transaction, the exporter
Q42: Under a letter of credit, the exporter
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