Business Studies, asked by alihasanarifbillah, 1 year ago

what is letter of credit in international trade!

Answers

Answered by susmibanerjee5ss

Answer:

Letters of credit are indispensable for international transactions since they ensure that payment will be received. Using documentary letters of credit allows the seller to significantly reduce the risk of non-payment for delivered goods, by replacing the risk of the buyer with that of the banks.

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