Question
What is the key function of a Letter of Credit (LC) in
international trade?Solution
The primary function of a Letter of Credit in international trade is to ensure payment to the exporter upon compliance with specified terms and conditions, reducing risk for both the importer and exporter.
More Accounts Questions
What will come in place of (?) question mark in the given number series.
22, 23, 19, 28, ?, 37
{(12√5 + 6√5 )} ×{(10√5 - 5√5 )} - 8² + 6² = ?
What will come in place of the question mark (?) in the following series?
10, 410, ?, 710, 760, 785
500, 400, 315, 245, ?, 150
12    17    44    147    ?   3065   18420
...- What will come in place of the question mark (?) in the following series?
5, 15, 35, 75, 155, ? 24, 8, 15, ?, 12, 4
75, 80, 95, ?, 155, 200
What will come in place of the question mark (?) in the following series?
10, 11, 15, 31, 95, ?
66, 17, 81, ?, 100, -21Â
