question archive Humber CollegeBMGT 0NB Golfing Inc
Humber CollegeBMGT 0NB Golfing Inc
Subject:BusinessPrice:2.87 Bought7
Golfing Inc. assembles golf carts that are used on golf course as well as other touristic locations such as resorts and beaches. In recent years, Golfing Inc. has received multiple inquiries from companies based in Cuba for the purchase of their product. In consideration of the contract, Golfing Inc. has requested payments to be made via letter of credit. Furthermore, given the size of the contract, Golfing Inc.'s supplier is seeking a guarantee of future payment. Which of the following will be an ideal type of letter of credit Golfing Inc. should ask for? *
Red clause letter of credit
Transferable letter of credit
Confirmed letter of credit
Revolving letter of credit
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
Answer:
Transferable letter of credit?
Step-by-step explanation
It is a type of financial guarantee, that additionally allows the first beneficiary to transfer some or all of the credit to another party, which creates a secondary beneficiary.
