What is the major difference between a commercial letter of credit and a standby letter of credit?

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Financial Institutions Management A Risk Management Approach

ISBN: 9781266138225

11th International Edition

Authors: Anthony Saunders, Marcia Millon Cornett, Otgo Erhemjamts

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Question Posted: Jun 04, 2024 01:11 AM

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What is the major difference between a commercial letter of credit and a standby letter of credit?

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Financial Institutions Management A Risk Management Approach

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