Question
What is a letter of credit? Suppose that your customer, an importer located in Indonesia, asks you to provide a letter of credit to back
What is a letter of credit? Suppose that your customer, an importer located in Indonesia, asks you to provide a letter of credit to back his purchases from a supplier located in California. What risks and rewards are involved from the bank's point of view? Does your answer change if the importer is located in France? Russia?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley Eakins
6th Edition
0321374215, 9780321374219
