________ is export/import financing in which the importer's bank issues a document stating that the bank will pay the exporter when the exporter fulfills the terms of the document.
A) Draft
B) Bill of lading
C) Letter of credit
D) Bill of exchange

Question

Quizplus · Accepted Answer

A letter of credit is a financial document issued by the importer's bank that guarantees payment to the exporter once the exporter presents the required documentation. It is a tool used to reduce the risk of non-payment in international trade transactions.

________ Is Export/import Financing in Which the Importer's Bank Issues