Question $74$

$4$ pts

If you were going to use a Letter of Credit $($L$/$C$),$ and you have a contract with the supplier in place, what would you ensure the L$/$C had in its explicit terms:

Somewhat similar terms for when payment will take place.

The Contract overrides the $\frac{L}{C},$ so the $\frac{L}{C}$ terms are not of major issue

The Exact same terms for when payment will take place should be in the contract and the L$/$C

The L$/$C terms are not important as the Contract will advise the banks when to pay.