____ promises to pay the beneficiary if they buyer fails to pay as agreed.

Name: ____ promises to pay the beneficiary if they buyer fails to pay as agreed.
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Question

Quizplus · Accepted Answer

A standby L/C guarantees payment to the beneficiary if the buyer fails to fulfill their obligations. It acts as a safety net for the seller if there is a risk of non-payment. Transferable L/C and assignment of proceeds are methods used for payment, not for guaranteeing payment.

____ Promises to Pay the Beneficiary If They Buyer Fails