____A letter of credit which does not indicate whether it is revocable or not is regarded as irrevocable.
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____A letter of credit not mentioning it is nontransferable will be seen as transferable.
____Using a third currency in collecting payment is the best protection against currency risk for the seller.
____Since under L/C the sell gets payment from a party independent of the buyer it is the safest mode for him.
____Open account and payment in advance indicate the minimum and maximum risk for the importer