Martin Exporting Requests ABC Bank to Add Its Own Guarantee

question 52

Multiple Choice

Martin Exporting requests ABC Bank to add its own guarantee of payment to a letter of credit,which creates a(n) ________.

• A) advised letter of credit
• B) confirmed letter of credit
• C) irrevocable letter of credit
• D) unconfirmed letter of credit

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Definitions:

Proprietary Information

Information that is owned by an individual or company, regarded as a trade secret or confidential knowledge.

Declaration of Helsinki

An international set of ethical principles for medical research involving human subjects, developed by the World Medical Association.

Independent Committee

refers to a group of individuals, often from different organizations, who provide oversight or governance on a specific issue, ensuring objectivity and impartiality.

Qualified Individuals

Persons who possess the necessary skills, knowledge, certifications, or experience to perform a specific task or job.