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What is letter of credit?

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What is letter of credit?
  • 4 answers

Lubhanshi Garg 6 years, 9 months ago

This os the guarantee given by importer's bank to exporter's bamk to honour the cheque upto a specified amt.

Riya Lubana 6 years, 9 months ago

It is a guarantee taken by bank of importer

Anshika Mishra 6 years, 9 months ago

It is used in international trading under this importer have to grant a letter of credit through importer bank for showing his credit worthiness to exporter.

Pankaj Rautela 6 years, 9 months ago

A promissory note
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