Based on financial operation and standards, a Letter of Credit is a document from a bank guaranteeing that a seller will receive payment in full as long as certain delivery conditions have been met.
Letter of Credit is usually used during international trade to ensure financial assurance from a creditworthy bank to an exporter of goods.
Some of the types of letters of Credit include:
Hence, in this case, it is concluded that the correct answer is "Letter of Credit."
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