A LETTER OF CREDIT IS: Select one: a. A WRITTEN ORDER INSTRUCTING THE IMPORTER OR...
70.2K
Verified Solution
Link Copied!
Question
Finance
A LETTER OF CREDIT IS:
Select one: a. A WRITTEN ORDER INSTRUCTING THE IMPORTER OR HIS AGENT TO PAY THE AMOUNT SPECIFIED ON ITS FACE ON A CERTAIN DATE b. NEGOTIABLE MONEY MARKET INSTRUMENT FOR WHICH A SECONDARY MARKET EXISTS c. IS A DOCUMENT ISSUED BY THE COMMON CARRIER SPECIFYING THAT IT HAS RECEIVED THE GOODS FOR SHIPMENT d. A GUARANTEE FROM THE IMPORTER'S BANK THAT IT WILL ACT ON BEHALF OF THE IMPORTER AND PAY THE EXPORTER FOR THE MERCHANDISE IF ALL THE RELEVANT DOCUMENTS ARE PRESENTED
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
