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O-LevelCommerceBanking7100/11 · May/June 2011 · Q331 Mark

A bank will provide finance to an exporter of goods to cover the time between despatch of the goods and receipt of payment from the overseas customer. What name is given to this service?

Abank draft

Bbill of exchange

Ccredit card

Ddocumentary credit

✓ Correct answer

D: documentary credit

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About this question

Topic: Banking, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, May/June 2011 Paper 1 Variant 1, question 33.

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