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Question

Which of the following documents are not required for obtaining an export license?


A
IEC number
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B
Letter of credit
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C
Registration cum membership certificate
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D
Bank account number
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Solution

The correct option is B Letter of credit
Letter of credit is an instrument issued by bank after request made by a foreign buyer that payment will be made to the exporter i.e. the beneficiary. It is useful where buyers and sellers do not know each other personally and are separated by distance. Hence, it is not required for obtaining an export license.

Business Organisation

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