Identify the transport document being used. Also called letter of credit arrangement.

SUPPLY CHAIN MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Identify the transport document being used. “Also called letter of credit arrangement.”

A	Export/Import licence
B	Bill of exchange
C	Documentary bill
D	Certificate of origin
E	Documentary credit

Explanation:

Detailed explanation-1: -A letter of credit or LC is a written document issued by the importer’s bank (opening bank) on importer’s behalf. Through its issuance, the exporter is assured that the issuing bank will make a payment to the exporter for the international trade conducted between both the parties.

Detailed explanation-2: -Irrevocable (and Revocable) The opening introduction referred to a written undertaking given by an issuing bank. Confirmed. Silent Confirmation. Revolving. Red & Green Clause. Transferable. Back-to Back: Standby Letter of Credit. 13-Nov-2019

Detailed explanation-3: -Irrevocable LC. This LC cannot be cancelled or modified without consent of the beneficiary (Seller). Revocable LC. Stand-by LC. Confirmed LC. Unconfirmed LC. Transferable LC. Back-to-Back LC. Payment at Sight LC. More items

There is 1 question to complete.

ENTREPRENEURSHIP

ENTREPRENEURIAL OPERATIONS

SUPPLY CHAIN MANAGEMENT