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    Question

    Which of the following is NOT a direct party to a Letter

    of Credit (LC)?
    A Applicant Correct Answer Incorrect Answer
    B Beneficiary Correct Answer Incorrect Answer
    C Issuing Bank Correct Answer Incorrect Answer
    D Advising Bank Correct Answer Incorrect Answer
    E Insurance Company Correct Answer Incorrect Answer

    Solution

    The main parties to a Letter of Credit are: • Applicant (Importer) • Issuing Bank • Beneficiary (Exporter) • Advising or Confirming Bank Insurance companies are not direct parties, though they may provide cargo or credit insurance separately.

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