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Guarantee to an exporter that the importer will pay immediately for the goods ordered by him, is knows as
Letter of Credit
inflation
laissez -faire
None of these
ANSWER : 1
Descrption
<p>Guarantee to an exporter that the importer of his goods will pay immediately for the goods ordered by him, is known as Letter of Credit (L/C).</p> <p>A Letter of Credit, also known as LC or Documentary Credit, is a commonly used instrument for effecting payment between a buyer and a seller.</p>
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