Suppose an importer's bank issues a letter of credit to the seller in a foreign country. The
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Question:
Suppose an importer's bank issues a letter of credit to the seller in a foreign country. The letter of credit often states that it is available "against your draft at sight" when accompanied by a set of additional documents. a. Why will the seller-instead of the buyer--be presenting a sight draft? b. Why is the bank requiring a set of additional documents?
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