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Letter of Credit (LC) is a banking instrument generally used in ---
Export-Import
Foreing remittance
Local money
Local trading
ANSWER : 1
Descrption
<p>A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods.</p>
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