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When and who prepares Letter of credit and is any relation
with bill of exchange? pleas breaf with examle.
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Answer Posted / saurabh jaiswal
When there is a foreign transaction,the exporter write
letter od credit.A letter of credit is essentially a
promissory note from your bank for an exporter. It is used
to build trust in business relationships, especially with
internal business transactions.
| Is This Answer Correct ? | 5 Yes | 4 No |
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