Under a letter of credit arrangement, the bank issuing the letter of credit is known as the ____ bank, the correspondent bank in the beneficiary's country to which the issuing bank sends the letter of credit is known as the ____ bank, and the bank that agrees to examine documents under the letter of credit and pay the beneficiary is called the ____ bank.

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Question:

Under a letter of credit arrangement, the bank issuing the letter of credit is known as the ____ bank, the correspondent bank in the beneficiary's country to which the issuing bank sends the letter of credit is known as the ____ bank, and the bank that agrees to examine documents under the letter of credit and pay the beneficiary is called the ____ bank.

Answers

Answer:the issuing Bank, Confirming Bank, and Confirming Bank.Explanation:The issuing Bank is the bank that is responsible for issuing the letter of credit. The Confirming Bank is the correspondent Bank saddle with the responsibility of receiving the letter of credit in the beneficiary's country from the issuing bank. At the same time, it is the confirming bank that does the examination of the documents under the letter of credit and pay the beneficiary.

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