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  3. 11th Class
  4. Business Studies
  5. International Business-II

11th Class Business Studies International Business-II

  • question_answer 8)
    The document containing the guarantee of a bank to honor drafts drawn on it by an exporter is (a) Letter of hypothetication (b) Letter of credit (c) Bill of lading (d) Bill of exchange

    Answer:

    (b) A letter of credit is a guarantee issued by the importer's bank that it will honor up to a certain amount the payment of export bills to the bank of the exporter.


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