Video Question Go to this text’s Web site at www.cengage.com/blaw/blt and select “Chapter 22.”
Click on “Video Questions” and view the video titled International: Letter of Credit. Then answer the following questions.
1 Do banks always require the same documents to be presented in letter-of-credit transactions? If not, who dictates what documents will be required in the letter of credit?
2 At what point does the seller receive payment in a letter-ofcredit transaction?
3 What assurances does a letter of credit provide to the buyer and the seller involved in the transaction?