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What is new letter of credit?
A new letter of credit is a financial instrument issued by a bank on behalf of a buyer that guarantees payment to a seller.
Who is required to file new letter of credit?
The buyer or importer is required to file a new letter of credit.
How to fill out new letter of credit?
To fill out a new letter of credit, the buyer must provide the necessary information and submit it to their bank.
What is the purpose of new letter of credit?
The purpose of a new letter of credit is to ensure that the seller will be paid for goods or services provided.
What information must be reported on new letter of credit?
The new letter of credit must include details about the buyer, seller, amount, expiration date, and terms of payment.
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