here is the information about WHAT IS LETTER OF CREDIT and ITS IMPORTANCE IN IMPORT AND EXPORT..
please check the attached file
Letter of Credit
A letter of Credit is a commitment on the part of buyer bank to pay or accept draft drawn upon it provided draft do not exceed a specified amount.
Types of Letter of Credit
•Irrevocable
•Revocable
•Confirm
•Unconfirmed
•Clean Letter of Credit
•Fixed Credit
•Revolving Letter of Credit
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