A ______ Letter of Credit Is a Confirmation Made by a Correspondent

question 153

Short Answer

A ______ letter of credit is a confirmation made by a correspondent bank in the seller's country by which it agrees to honor the issuing bank's letter of credit.

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Definitions:

Developing Nations

Countries that are in the process of industrialization and have lower levels of material well-being compared to developed countries.

Commercial Media

Media outlets that are primarily funded through advertising and subscriptions, aiming at generating profit and catering to broad audiences.

Private Investment

The use of private individual or corporate funds to invest in assets with the expectation of generating financial returns.

Western Artists

Artists originating from or primarily associated with the Western world (Europe, North America, Australasia), often referenced in the context of Western art history or culture.