When a letter of credit is unconfirmed,the obligation to provide credit belongs to

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In the context of a letter of credit, when it is unconfirmed, the primary obligation to honor the credit falls on the opening bank, which is the bank that issues the letter of credit at the request of the importer (buyer). This means the opening bank is committed to ensuring payment to the exporter (beneficiary) upon presentation of the documents specified in the letter of credit, assuming all terms and conditions are met.

When a Letter of Credit Is Unconfirmed,the Obligation to Provide