Answer / k. phanindra kumar

if one company imports goods from another company from
another country then the imported company will approach bank
for issuing a letter. the bank will give assurance to the
export company. On the delivery of the goods the imported
company will make payment

Answer / kapil waghmare

letter from a bank guaranteeing that a buyer's payment to a
seller will be received on time and for the correct amount.
In the event that the buyer is unable to make payment on
the purchase, the bank will be required to cover the full
or remaining amount of the purchase

Answer / jochandu

bank given assurence is called letter of credit

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