What are the major differences between using letters of credit and bills of exchange (drafts) as procedure

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What are the major differences between using letters of credit and bills of exchange (drafts) as procedure for financing exports and receiving payment?

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International Marketing & Export Management

ISBN: 978-0273743880

7th edition

Authors: Gerald Albaum, Edwin Duerr

Question Posted: Dec 02, 2015 04:43 AM

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What are the major differences between using letters of credit and bills of exchange (drafts) as procedure

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When letters of credit are used payment is guaranteed by the bank that issues it The issuing bank ...View the full answer

International Marketing & Export Management

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