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Alchen [17]
3 years ago
15

A letter of credit states that an exporter has availed credit from the bank to manufacture goods.

Business
1 answer:
aalyn [17]3 years ago
4 0
I think that statement is false

a letter of credit does not states that an exporter has availed credit from the bank to manufacture goods, but it st<span>ates that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents instead.</span>
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