1. Sundarajan Pvt.Ltd., Bangalore based company are engaged in exporting seafood to various countries. They entered a contract with Japanese Company, Ziomei Pvt Limited for the exporting cuttlefish. Ziomei Pvt Limited asked XYZ Limited to issue the letter of credit. Sundarajan &lsquos owner doesn't have many ideas on the letter of credit. He visits the bank to get an idea of how the letter of credit works.

 As a bank manager, you are required to explain to him the procedure of how the letter of credit works as its advantages from the buyer as well as the seller's point of view.

The answer should be a min of 800 Words. Or else the university will not consider it. 

Answer rating: 100% (QA)

Ziomei Pvt Limited export payments are open to risk even at the best of times Today the risks are greater because of the political and economic changes that have had a major impact on the world An out... View the full answer