True/False
A letter of credit cannot extend for a period of more than five (5) years.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q41: Subrogation is an agreement that a party
Q42: Letters of credit are a two-party agreement
Q43: When a suretyship or guaranty contract is
Q44: An agreement under which one party agrees
Q45: A surety is liable from the moment
Q47: A letter of credit must be in
Q48: A surety that has made payment of
Q49: Which of the following is not a
Q50: Pasquale and Paul were sureties on the
Q51: If an issuer requests its correspondent bank