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      Question

      A bank will open credit under a letter of credit on the

      request of _________ .     
      A Importer Correct Answer Incorrect Answer
      B Exporter Correct Answer Incorrect Answer
      C Issuing bank Correct Answer Incorrect Answer
      D Advising Bank Correct Answer Incorrect Answer
      E Negotiating Bank Correct Answer Incorrect Answer

      Solution

      The importer or buyer is the person who applies to the bank to open a letter of credit, since he would be either purchasing goods or availing services for which payment has to be made.  

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