THE MECHANISM OF A CONFIRMED LETTER OF CREDIT WORKS AS FOLLOWS

23. The mechanism of a confirmed letter of credit works as follows:

A. Buyer instructs issuing bank to issue a letter of credit in favor of the seller

B. Buyer instructs an issuing bank to instruct an advising bank to pay under a letter of

credit in favor of the seller

C. Buyer instructs an issuing bank to instruct a confirming bank to pay under a

letter of credit in favor of the seller

D. Buyer instructs an issuing bank to instruct any third bank to pay under a letter of