- 30 Marks
CBLP – APRIL 2024 – LEVEL 4 – Q3 – Terms in Documentary Credits
Explain five terms used in documentary credits: confirmed, back-to-back, revolving, red clause, and standby letters of credit
Question
Explain the following terms as used in the context of Documentary Credits.
i. Confirmed Credits (6 Marks)
ii. Back-to-Back Credits (6 Marks)
iii. Revolving Credits (6 Marks)
iv. Red Clause Credits (6 Marks)
v. Standby Letters of Credit (6 Marks)
[Total =30 Marks]
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