Question

explain the Mechanism of letter of credit

Answer 1

Answer:

This is your Answer

Explanation:

A letter of credit, or "credit letter" 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 a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

Hope this may help you

Mark me as a brainliest