B. Answer the following with reference to the comert. 2) Who is the speakeri the widowb) What is in the above me?7

B. Answer the following with reference to the comert. 2) Who is the

1.	B. Answer the following with reference to the comert. 2) Who is the speakeri the widowb) What is in the above me?7
Answer» A Letter of Credit is a payment TERM generally used for international sales TRANSACTIONS. ... Thus a LC (as it is commonly referred to) is a payment undertaking given by a bank to the seller and is issued on behalf of the applicant i.e. the BUYER.