Part 10: Valuation & Appraisement of Merchandise
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A letter of credit serves as a financial instrument detailing its purpose and limitations. Key entities include buyers, sellers, exporters, importers, and banks, with banks facilitating transactions between Malaysia and the U.S. Buyers must be cautious with unknown sellers, and the payment process involves securing documents for payment. Issues like nonconforming goods and shipping errors highlight the importance of trust and negotiation in these transactions.
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