A letter of credit states that an exporter has availed credit from the bank to manufacture goods.

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24-04-2017
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A letter of credit states that an exporter has availed credit from the bank to manufacture goods.

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andriansp andriansp · Answer 1 · 2017-04-28T10:55:50+02:00

andriansp andriansp

28-04-2017

i think that statement is false

a letter of credit does not states that an exporter has availed credit from the bank to manufacture goods, but it states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents instead.

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