Letters of Credit/Activities

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Activity

1. As the exporter, you have just received a confirmed transferable letter of credit. What are the characteristics of this type of letter of credit?

2. As the exporter, you have just received a confirmed standby letter of credit. What are the characteristics of this type of letter of credit and when will you use it?

3. As the importer, you have applied to your bank to issue a non-transferable irrevocable letter of credit. What are the characteristics of this type of letter of credit?

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