Question: When exporting, a ( n ) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

When exporting, a

(

)____________________

is the most popular avenue for obtaining payment.

It is essentially a contract between the banks of a buyer and a seller that ensures payment from the buyer to the seller upon receipt of an export shipment and required documentation.

The issuing bank charges a fee for the service.

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