Which of the following is not true of a letter of credit?
A. it is a document
B. issued by a bank
C. at the request of the exporter
D. the bank agrees to honor a draft drawn on the importer
E. payable in the designated currency
A. it is a document
B. issued by a bank
C. at the request of the exporter
D. the bank agrees to honor a draft drawn on the importer
E. payable in the designated currency