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All of the following are true about letters of credit EXCEPT?A.Most banks do not require that international letters of credit be governed by the Uniform Customs and Practices for Documentary Credits (UCP).B.Letters of credit support the international sale of goods.C.A buyer of a letter of credit must pay a bank a fee to write the letter of credit.D.Letters of credit are governed by Article 5 (Letters of Credit) of the Uniform Commercial Code (UCC).E.A letter of credit guarantees the seller that if the buyer does not pay for the goods, then the bank will pay the seller.Next
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