1.ABC Company will proceed promptly to arrange the Standby LetterofCredit issued by Standard Chartered Bank, Manila, Philippines in theamountof $ 700,000.
7.Either because thecreditamount is too large, or because he does not fully trust the opening bank, the exporter may sometimes require confirmed letterofcredit.
8.Either because thecreditamount is too large, or because he does not fully trust the opening bank, sometimes the exporter may require a confirmed letterofcredit.