50+: You are confusing a "letter" of credit with a "line" of credit. F-T has issued only a "letter" of credit, not a "line of credit." You are not the first to confuse the two.
I explained the difference in this post: #msg-872533
Management "anticipates" getting a similar "letter" of credit from Softec.
These letters of credit are required because of e.Digital's inability to establish credit with the manufacturers, who I'm sure don't want to have to keep accepting stock as payment. Without the L/C, e.Digital would have to pay upfront. This way F-T is substituting its good credit for e.Digital's bad credit.
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