New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    In a Letter of Credit (LC) transaction, which entities

    typically play a role in addition to the issuing bank, advising bank, and beneficiary?
    A Importer, exporter, customs authority. Correct Answer Incorrect Answer
    B Seller, buyer, shipping company. Correct Answer Incorrect Answer
    C Export credit agency, foreign exchange broker, escrow agent. Correct Answer Incorrect Answer
    D Chamber of Commerce, regulatory authority, insurance company. Correct Answer Incorrect Answer

    Solution

    In a Letter of Credit transaction, entities like export credit agencies, foreign exchange brokers, and escrow agents may play additional roles in the process.

    Practice Next