Accountancy, asked by vandanaxc1270, 1 year ago

Define letter of credit

Answers

Answered by swati7478
7
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A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. 

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janmayjaisolanki78: Hi di
Answered by shubham610
4
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With love here is your answer ❤️⤵️❤️⤵️

A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.
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