IGNOU IBO 6 2025 - Letter of credit

Question

Letter of credit

12 Sep 2025

Answer :

Word Count : 273

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 buyer to the seller. It ensures that the seller will receive payment for goods or services provided, as long as the terms and conditions specified in the letter of credit

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