1. Letter of credit can be confirmed or un-confirmed. What is the subject of the confirmation (what is being confirmed)? Why is there a need for confirmation? Who confirms it?
2. In a letter of credit, the exporter allows the importer to pay 3 months after the goods are on the ship, -free and clear-. What is the type of this letter of credit? How is it useful?
3. In a letter of credit, the exporter requires immediate payment. However, importer needs 3 months to pay. What types of financing applies to this case? How does it work?
4. In a letter of credit, the exporter needs advance payment for production. However, importer wants to pay after the goods are delivered. What type of financing applies to this case? How does it work?