vlanefooEne vlanefooEne
  • 24-04-2017
  • Business
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A letter of credit states that an exporter has availed credit from the bank to manufacture goods.

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andriansp andriansp
  • 28-04-2017
i think that statement is false

a letter of credit does not states that an exporter has availed credit from the bank to manufacture goods, but it states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents instead.
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