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
- Select the number from among the given options that can replace the question mark (?) in the following series.
17, 18, 22, 31, 47, ___ - Select the letter-pair that can replace the question mark (?) in the following series?
FK, HM, LQ, RW, ZE, ? - Which letter-cluster will replace the question mark (?) in the following series?
NPQR, OORQ, PNSP, ____, RLUN - Which letter-cluster will replace the question mark (?) in the following series?
RGV, UME, ?, AYW, DEF - Which letter and number cluster will replace the question mark (?) to complete the given series?
LT6, KU12, IW24, FZ48, ____ - Select the number that can replace the question mark (?) in the following series.
24, 28, 37, 53, 78, ? - A series is given with one term missing. Choose the correct alternatives from the given ones that will complete the series.
57, 59, 56, 61, 54, ___
