A letter written by a company’s bank to the company’s foreign supplier, stating that the bank will guarantee payment of an invoiced amount if all the underlying agreements are met is called
A. a letter of invoice.
B. a letter of intent.
C. a letter of credit.
D. None of the above.
Answer:C
A letter written by a company’s bank to the company’s foreign supplier, stating that the bank will guarantee payment of an invoiced amount if all the underlying agreements are met is called
A. a letter of invoice. B. a letter of intent. C. a letter of credit. D. None of the above.