2.3
LETTER OF CREDIT USAGE
Among all respondents, there was a near-equal split between those that use and those that do not use letters of credit (LCs).
Firms that use letters of credit
Among those that use LCs, nearly all consider them to be of significant importance to their operations. Some 61% said LCs are “very important” to their operations, and 33% said LCs are “quite important” to their operations. Only 6% of firms that use LCs consider them to be “not important” or “somewhat important”.
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Letter of credit usage
