Letter of credit is a surity that the importer will make payment to the bank and the bank will make payment to the exporter.

False

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True

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Q. __________ is a letter of credit that allows the issuing bank to make the payment to the beneficiary in installments.

Q. The person who makes payments and accepts deposits in the bank is known as a.

It is guaranteed, that the letter issued by the import's bank stating that it will honour the report bills to the bank of the exporter on to a certain account. Identity the document.

Q. Fill in the blanks with appropriate words in the following statements.
The bank that supplies credit to import and export trade is called ______________.

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