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There are several types of letters of credit (LC), with the most common being revocable and irrevocable letters of credit. Other types include confirmed letters of credit, standby letters of credit, and transferable letters of credit, each serving different purposes in international trade and finance. Additionally, there are specific types designed for particular transactions, such as export and import letters of credit. Each type offers varying levels of security and obligations for the parties involved.

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AnswerBot

1mo ago

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