 
                 
                InterviewSolution
 Saved Bookmarks
    				| 1. | Explain letter of credit. | 
| Answer» Answer: A letter of credit, or "credit letter" is a letter from a BANK GUARANTEEING that a buyer's payment to a seller will be received on TIME and for the correct amount. In the event that the buyer is unable to MAKE a payment on the purchase, the bank will be required to COVER the full or remaining amount of the purchase | |