Peterson Manufacturing wants to import a machine from Germany. However, the company's head of manufacturing is reluctant to spend the time required to obtain a letter of credit that the German exporter insists on. You are the company's CFO. What advantage of a letter of credit will help convince the head of manufacturing that this is worthwhile?

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27-04-2020
Business

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Peterson Manufacturing wants to import a machine from Germany. However, the company's head of manufacturing is reluctant to spend the time required to obtain a letter of credit that the German exporter insists on. You are the company's CFO. What advantage of a letter of credit will help convince the head of manufacturing that this is worthwhile?

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Shariqahmed Shariqahmed · Answer 1 · 2020-04-28T10:35:23+02:00

Answer:

As a business executive of Peterson manufacturing I might convert the top of producing by expressive the advantages of letter of credit that are recorded below;

Businessperson is bonded disbursement upon arrangement of such documents.
It disregards the chance of coping with associate unidentified businessperson in an exceedingly totally different country.
It converts easier for the businessperson to protected pre-order finance.
Businessperson cannot decline disbursement by rising a criticism concerning the products