Question
Economics Question on Economics and economic theories
__is issued by a bank at the request of an importer. It states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of specified documents.
A
Bill of Exchange
B
Bill of Lending
C
Letter of Credit
D
Bank overdraft
Answer
Letter of Credit
Explanation
Solution
The correct option is (C):Letter of Credit