📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      Question

      Letter of Credit (LC) is issued

      by:
      A Importer Correct Answer Incorrect Answer
      B Exporter Correct Answer Incorrect Answer
      C Bank of importer Correct Answer Incorrect Answer
      D Customs authority Correct Answer Incorrect Answer

      Solution

      The importer requests his bank to guarantee payment to the exporter. The bank then issues a Letter of Credit in favour of the exporter.

      Practice Next

      Relevant for Exams:

      ask-question