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Which document provides reassurance to all parties in an international transaction and serves as a promise issued by a bank on behalf of the importer to pay for goods and services?
Suggested Answer: D
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A documentary letter of credit (LC) guarantees that the importer's bank will pay the exporter upon fulfilling specified conditions. [P-135]
Topic 3, The concept of reverse logistics and its impact on global logistics
2 comments · newest first
YO
Yoko
2 days ago
I remember practicing a question similar to this one, and it was definitely about the bank's promise to pay. I feel like it's definitely the letter of credit.
CH
Cheryll
7 days ago
I think the answer might be D) Documentary letter of credit, but I'm not entirely sure. We covered this in class, but I get confused with the different types of documents.