A Revocable L/C Is Intended to Serve as a Means

question 10

True/False

A revocable L/C is intended to serve as a means of arranging payment but not as a guarantee of payment.

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Definitions:

Technological Advance

The development and application of innovative techniques, equipment, and processes in various fields, leading to improved efficiency and productivity.

External Force

A force that acts on an object or system from outside its boundaries, influencing its behavior or direction.

Modern View

A contemporary or current perspective on various subjects, often reflecting the latest developments, trends, and ideas in a field.

Product Innovation

The development and sale of a new or improved product (or service).