Assignment:
Explain these types of letter of credit: revocable/irrevocable, confirmed/unconfirmed. Under what sets of circumstances would exporters use the following methods of payment:
(a) revocable letter of credit;
(b) confirmed letter of credit;
(c) confirmed irrevocable letter of credit;
(d) time draft (i.e. bill of exchange)?
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.