international Finance question

QUESTION FOUR i) Explain the term "letter of credit" in international trade. How does it work, and what are its advantages and disadvantages for both the buyer and the seller? (10 marks) ii) What is the primary purpose of using documentary collections in international trade? Describe the key steps involved in the process. (5 marks) iii) Define export financing and import financing. How do these financing methods help businesses engage in international trade? ( 5 marks) ( Total =20 marks )