Commercial letter of credit are? customarily required by importers of their suppliers. negotiable in the money markets of major cities. customarily provided by banks to their customers to accommodate their import activities. ordinarily provided by issuing bank at no charge to customers.
Commercial letter of credit are? customarily required by importers of their suppliers. negotiable in the money markets of major cities. customarily provided by banks to their customers to accommodate their import activities. ordinarily provided by issuing bank at no charge to customers.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Commercial letter of credit are?
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customarily required by importers of their suppliers. |
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negotiable in the |
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customarily provided by banks to their customers to accommodate their import activities. |
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ordinarily provided by issuing bank at no charge to customers. |
Expert Solution
Step 1 General Introduction
A commercial letter of credit
A commercial letter of credit is written on behalf of the customer which ensures a supplier to a company gets paid for the goods and services it provides. Letter of credit has become a very important aspect of international trade due to the nature of international dealings.
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