Question

In a documentary credit transaction, what is the

Q: Answer-In a documentary credit transaction, what is the significance of the 'expiry date' mentioned in the...

The expiry date in a documentary credit specifies the latest date by which the exporter must present the required documents to the bank in order to receive payment. If the documents are presented after this date, the exporter may not receive payment under the terms of the letter of credit.

significance of the 'expiry date' mentioned in the letter of credit?

A It determines the deadline by which the goods must be shipped.

B It specifies the latest date by which the documents must be presented to the bank for payment.

C It indicates the last date by which the buyer must make the payment.

D It outlines the last date for the exporter to confirm the sale price.

E It is the date when the buyer must receive the goods.

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In a documentary credit transaction, what is the

Solution