A non-negotiable order of a bank to a foreign bank authorizing payment to a person designated of a particular sum of money is known as:

A non-negotiable order of a bank to a foreign bank authorizing payment

1.	A non-negotiable order of a bank to a foreign bank authorizing payment to a person designated of a particular sum of money is known as:
A.	Letter of Credit
B.	Circular Letter of Credit
C.	Letter of Reference
D.	None of the above
Answer» B. Circular Letter of Credit