Which of the Following Is Not True Regarding Letters of Credit

question 3

Multiple Choice

Which of the following is not true regarding letters of credit?

• A) A letter of credit is a written commitment by the importer's bank on the importer's behalf promising to pay the exporter when it presents documents showing that the products have been shipped.
• B) The letters of credit used in international trade are irrevocable.
• C) Letters of credit guarantee that the products shipped are the products purchased.
• D) All of these are true.

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Definitions:

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