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1.You are employed as Executive Secretary to the CEO of a small export/import company.She tells you that the company is negotiating to buy some pillows

1.You are employed as Executive Secretary to the CEO of a small export/import company.She tells you that the company is negotiating to buy some pillows from a supplier in Hungary.The seller has told her that it will be a documentary sale and that payment must be by a Confirmed, Irrevocable Letter of Credit.

The CEO tells you that the purchase will be discussed by the Board of Directors next week and asks you to prepare some briefing notes for her explaining what the seller means.

Marks: 10

Please add case references while addressing and explaining.

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