What is Letter of Credit?
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Answer / pnv srinivasu
A letter from a bank guarnteeing that a buyers payment to a
seller will be received on time and for the correct amount.
In the event that buyer is unable to make payment on the
purchase the bank will be required to cover the full or
remaining amount of the purchase.
| Is This Answer Correct ? | 19 Yes | 0 No |
Letter of Credit (L.C) is document which is issued by Bank
onbehalf of faithfull customer to Third party.
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