Letter of credit (LC) is -

Letter of credit (LC) is - Correct Answer An instrument issued by a purchaser to guarantee payment.

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.
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Letter of Credit (LC) is a banking instrument used for ----.
Letter of Credit (LC) is a banking instrument used for ------