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The letter of credit and the sales contract are commercial documents that bind the exporters and importers at the time of a world exchange. commodity trading. The bank is bound by the letter of credit to give payment to the exporter. If under any circumstances, one of the parties is not pleased with the letter of credit the bank wants to act as magistrate. Create a free website.
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Commodity trading on the market has its’ roots in the agricultural field. Commodities such as wheat, cattle and corn were traded via an exchange, similar to a store or market, that began in the 19th century. Most speculators trade futures markets, whereas people actually want physical delivery of the commodities (such as farmers, trade spot markets). Oil is a special commodity. Unlike most other commodities, oil prices fluctuate drastically. They are also heavily tied to national politics in coun...Whene...
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