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A Chinese Exporter Could Collect Its Accounts Receivable from the Bank

Question 30

Multiple Choice

A Chinese exporter could collect its accounts receivable from the Bank of China if the Bank of China had confirmed the letter of credit issued by Citibank, and Citibank, for whatever reason, failed to honor its ________________ letter of credit.


A) confirmed
B) unconfirmed
C) transferable
D) irrevocable

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