IGNOU IBO 6 2025 - Letter of credit

Question

Letter of credit

06 Sep 2025

Answer :

Word Count : 286

A Letter of Credit (LC) is a widely used financial instrument in international trade that provides a guarantee from a bank on behalf of the importer to pay the exporter, provided that the terms and conditions specified in the LC are met. It is primarily used to mitigate the risks associated with cross-border transactions, including non-payment, political

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