In opening an L/C, a bank requires that a certain percent of the value of goods to be imported under the L/C is paid to the bank in advance. This part/proportion of payment is known as

In opening an L/C, a bank requires that a certain percent of the value of goods to be imported under the L/C is paid to the bank in advance. This part/proportion of payment is known as

A L/C commission

B L/C signing money

C L/C guarantee

D L/C protection money

Solution

Correct Answer: Option E