Assignment Task: Identify the four different parties involved in a letter of credit. What role does each?party?have? Provide an example that walks through the six steps in a letter of credit. Discuss reasons why a company might use a letter of credit for one export sale and not for another export sale. What makes a letter of credit "confirmed"? In what situations might a transferable letter of credit be used? Discuss why a different type of letter of credit is used and its advantages.