uppose that an importer and an exporter decide to use a letter of credit in their trade transaction. The first five steps of the procedure are the following: a. First, purchase order is made from the importer to the exporter; Second, the importer makes the letter of credit application at his bank; Third, the importers bank sends the letter of credit to the exporters bank; Fourth, the exporters bank notifies the exporter that the letter of credit has been received in good order; Fifth, the exporter conduct the physical shipment of the product to the importer b. First, purchase order is made from the importer to the exporter; Second, the exporter makes the letter of credit application at his bank; Third, the exporters bank sends the letter of credit to the importers bank; Fourth, the importers bank notifies the importer that the letter of credit has been received in good order; Fifth, the exporter conduct the physical shipment of the product to the importer c. First, purchase order is made from the importer to the exporter; Second, the exporter conduct the physical shipment of the product to the importer; Third, the importer makes the letter of credit application at his bank; Fourth, the importers bank sends the letter of credit to the exporters bank; Fifth, the exporters bank notifies the exporter that the letter of credit has been received in good order d. None of the above is correct