๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      Question

      In a Letter of Credit transaction, who bears the primary

      responsibility of payment to the exporter?
      A Exporterโ€™s bank Correct Answer Incorrect Answer
      B Importer 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 issuing bank guarantees payment to the exporter upon fulfillment of documentary terms, not the importer directly.

      Practice Next
      ask-question