lO. _'_l. 3.2. What are the main reasons why a letter of credit may be chosen as a form of International payment \".7 Name some advantages of a letter of credit . The letter of credit deals with documents and not with goods. what risk does this pose to the buyer ? What kind of risks is the exporter exposed to under the letter of credit ? Name (5) five main parties involved in the letter of credit . Which party instructs the bank to open a letter of credit ? Which party draws up and issues the letter of credit and then makes payment according to the conditions outlined in the letter of credit ? Which party receives payment as stipulated in the letter of credit ? Does the advising bank take on any payment obligations to the beneficiary under a letter of credit ? What does the Uniform Customs and Practice for Documentary Credits (UCP) outline ? What is the current version of the UCP rules used by commercial bankers and commercial parties in the execution of a letter of credit ? What is the bank's responsibility under Article 5 of the UCP 600 rules?I