Put the following steps for the issuance of a letter of credit in the correct order:

1. The issuing bank forwards the letter of credit to the advising bank.
2. The advising bank advises the exporter of the received letter of credit.
3. The importer instructs its bank to issue a letter of credit in favour of the exporter with pre-negotiated terms.
4. The exporter and importer sign a contract with the requirement to issue a letter of credit.

A IV, III, I, II

B II, I, III, IV

C II, III, I, IV

D I, II, III, IV

Answer: Option A - IV, III, I, II

Explanation: The correct order of the steps for the issuance of a letter of credit is as follows:- (from top to bottom)

IV. The exporter and importer sign a contract with the requirement to issue a letter of credit

III. The importer instructs its bank to issue a letter of credit in favour of the exporter with pre-negotiated terms.

I. The issuing bank forwards the letter of credit to the advising bank.

II. The advising bank advises the exporter of the received letter of credit.

Therefore, option A is the correct answer as it is the correct order of steps for the issuance of a letter of credit. Option B, C, D are incorrect because these orders of steps for the issuance of a letter of credit is not accurate.