Explain these types of letter of credit: revocable/ irrevocable, confirmed/unconfirmed. Under what sets of circumstances would exporters

Question:

Explain these types of letter of credit: revocable/ irrevocable, confirmed/unconfirmed. Under what sets of circumstances would exporters use the following methods of payment:

(a) Revocable letter of credit

(b) Confirmed letter of credit

(c) Confirmed irrevocable letter of credit

(d) Time draft (i.e. bill of exchange)?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Global Marketing

ISBN: 9781292251806

8th Edition

Authors: Svend Hollensen

Question Posted: