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

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What is the major difference between a commercial letter of credit and a standby letter of credit? LO.1

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Financial Institutions Management A Risk Management Approach

ISBN: 9780073530758

7th Edition

Authors: Anthony Saunders, Marcia Cornett

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Question Posted: Jul 24, 2024 07:04 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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