Most foreign trade transaction are paid for through the use of
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Correct Answer: Option C
Explanation:
Irrevocable and confirmed letters of credit provide security in international trade by giving the exporter assurance that payment will be made once the specified conditions and documentary requirements are fulfilled. Confirmation by another bank provides an additional guarantee of payment, making this method suitable for international transactions.
Irrevocable and confirmed letters of credit provide security in international trade by giving the exporter assurance that payment will be made once the specified conditions and documentary requirements are fulfilled. Confirmation by another bank provides an additional guarantee of payment, making this method suitable for international transactions.