Assignment:
Global Logistics & Supply Chain
Your company has decided to export to an Indian distributor. A major concern you have is getting paid by this distributor. You have asked the distributor to use irrevocable letters of credit.
a. Discuss the non-payment risks involved.
b. Describe in step-by-step detail how payments in an irrevocable letter of credit works.
c. Explain how an irrevocable letter of credit helps to minimize the risk of non-payment.
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.