Business Studies, asked by vicky7890, 1 year ago

what is meant by letter of credit in export trade?​

Answers

Answered by javeed88
4

Answer:

Letter of credit is an assurance given by the buyer's bank to remit the amount to the seller through seller's bank on maturity, as per the terms and conditions of document based on the contractual agreement between buyer and seller.

Answered by riyakumari74881
3

Answer:

Letter of credit is an assurance given by the buyer's bank to remit the amount to the seller through seller's bank on maturity, as per the terms and conditions of document based on the contractual agreement between buyer and seller.

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