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Explain what a letter of credit (L/C) is, who the principle parties are, what the principle...

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Finance

Explain what a letter of credit (L/C) is, who the principleparties are, what the principle advantage is, and how the L/Cfacilitates international trade.

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A letter of credit is a guarantee given by the buyers bank that the payment will be made in time to the seller for the correct amount If the buyer does not make the payment the bank will be required to make the remaining payment on the transaction    See Answer
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