Company ("abc") located in arlington, texas makes tv sets. it agrees to sell 1,000 tv sets to sanborn ltd. located in mexico city but asks sanborn to post a letter of credit at mexico capital bank ("bank") in mexico city to pay for the tv sets. abc is the under the letter of credit and will be paid under a standard letter of credit the correct answers in order for the blanks

ABC is the BENEFICIARY under the letter of credit and will be paid under a standard letter of credit AFTER ABC DELIVERS TO THE BANK THE BILL OF LADING AND ANY OTHER DOCUMENT SPECIFIED UNDER THE LETTER OF CREDIT.

Explanation:

A letters of credit (LC) is issued by the buyer's bank to the seller's bank in order the guarantee the payment for a foreign commerce transaction. The payment s competed after the seller provides the documents needed to prove the delivery of the goods.

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