A _____ is a document issued by a bank that guarantees a buyer's payment for a specified period of time upon compliance with specified terms.

A _____ is a document issued by a bank that guarantees a buyer's payment for a specified period of time upon compliance with specified terms.

A _____ is a document issued by a bank that guarantees a buyer's payment for a specified period of time upon compliance with specified terms. 




A. documentary draft

B. letter of credit

C. mail order

D. bill of lading

Answer: B. letter of credit


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