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A Letter of Credit that calls for a "time draft" means that

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A Letter of Credit that calls for a "time draft" means that;a. the buyer's bank must pay the seller's bank at the time documents are initiated.;b. the buyer's bank must pay the seller's bank at the time the shipped goods arrive at the destination port of entry.;c. the buyer's bank must pay the obligation at some future specified date if all the other terms and conditions set forth in the L/C are met.;d. time is of the essence.;e. None of the above.

 

Paper#32935 | Written in 18-Jul-2015

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