Multiple Choice
Which of the following is not true regarding letters of credit?
A) A letter of credit is a written commitment by the importer's bank on the importer's behalf promising to pay the exporter when it presents documents showing that the products have been shipped.
B) The letters of credit used in international trade are irrevocable.
C) Letters of credit guarantee that the products shipped are the products purchased.
D) All of these are true.
Correct Answer:
Verified
Correct Answer:
Verified
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