LML4807 EXAM PACK ANSWERS AND 2020 BRIEF NOTES
LML4807 EXAM PACK ANSWERS AND 2020 BRIEF NOTES
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LML4807 EXAM PACK ANSWERS (2019 - 2014) AND 2020 BRIEF NOTES
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---183januari 20222021/2022A+
- LML 4807 BANKING LAW EXAM MEMO 
 
 
1. Name and explain the roles of the various parties involved in documentary letters of credit. 
 
Depending on the circumstances a large number of different parties may be involved in a letter of credit. These include: 
 
-The applicant 
This is usually the buyer(importer) in terms of the contract of sale and who applies to the issuing bank for the issuance of the letter of credit. 
 
-The issuing bank or opening bank 
This bank issues or opens the letter of ...
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