Concerns documentary letters of credit

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Reference no: EM133576735

This question concerns documentary letters of credit (LCs)

1. Are most LCs revocable or irrevocable?

2. What organisation publishes international standards for LCs?

3. What is meant by the term irrevocable letter of credit?

4. What do we call the importer's bank?

5. What do we call the exporter's bank?

6. What is a red clause credit?

Reference no: EM133576735

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