FAQ of the week- What is a Letter of Credit? Answer- Letter of - TopicsExpress

FAQ of the week- What is a Letter of Credit? Answer- Letter of Credit (LC) is a document issued by a financial institution guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. More Q&A can be found at ow.ly/k4kVD

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