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  3. a letter of credit is: select one: a. a written or

A LETTER OF CREDIT IS: Select one: a. A WRITTEN ORDER INSTRUCTING THE IMPORTER OR...

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Finance

A LETTER OF CREDIT IS:

Select one: a. A WRITTEN ORDER INSTRUCTING THE IMPORTER OR HIS AGENT TO PAY THE AMOUNT SPECIFIED ON ITS FACE ON A CERTAIN DATE b. NEGOTIABLE MONEY MARKET INSTRUMENT FOR WHICH A SECONDARY MARKET EXISTS c. IS A DOCUMENT ISSUED BY THE COMMON CARRIER SPECIFYING THAT IT HAS RECEIVED THE GOODS FOR SHIPMENT d. A GUARANTEE FROM THE IMPORTER'S BANK THAT IT WILL ACT ON BEHALF OF THE IMPORTER AND PAY THE EXPORTER FOR THE MERCHANDISE IF ALL THE RELEVANT DOCUMENTS ARE PRESENTED

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