When Issuing a Letter of Credit,the Bank Charges the Exporter

question 60

True/False

When issuing a letter of credit,the bank charges the exporter a fee for the service.

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Definitions:

Sales Representative

A person employed to sell products or services for a company, often directly to customers.

Percent Discount

A reduction in price, usually calculated as a certain percentage of the original price.

Full Amount

The complete or total sum of money required or specified, without deductions.

Ratify Contracts

The formal approval or confirmation of a contract, making it officially valid.