Explain the difference between a letter of credit (L/C) and a draft. How are they linked?

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Multinational Business Finance

ISBN: 978-0132743464

13th edition

Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett

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Question Posted: Oct 13, 2015 06:35 AM

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Explain the difference between a letter of credit (L/C) and a draft. How are they linked?

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A Letter of Credit LC is a document issued by a bank promising to pay if certain d...View the full answer

Multinational Business Finance

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