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Name some advantages of a letter of credit

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Reference no: EM133103834

Questions:

1) What are the main reasons why a letter of credit may be chosen as a form of International payment?

2) Name some advantages of a letter of credit.

3) Does the advising bank take on any payment obligations to the beneficiary under a letter of credit?

4) Is a CIFFA freight forwarder liable for his/her documentation in a letter of credit transaction? Explain.

5) What is the difference between a revocable and irrevocable letter of credit?

Reference no: EM133103834

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Name some advantages of a letter of credit : 1) What are the main reasons why a letter of credit may be chosen as a form of International payment?
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