Question

In a documentary credit transaction, what is the 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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