Which item is not necessarily indicated on a letter of credit?
A. kinds of credit
B. L/C amount
C. date and place of issue
D. acceptor
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Which of the following is the obligation of issuing bank under letter of credit?
A. To advise or transmit the credit to the beneficiary within reasonable time.
B. Issue the L/C correctly without delay on the basis of the application.
C. Add its confirmation to a credit upon the issuing bank’s authorization or request.
D. To take reasonable care to check the authenticity of the credit.
The payer on the bill of exchange under collection is ( )
A. exporter
B. importer
C. exporter’s bank
D. importer’s bank
Which of the following is not a characteristic of negotiable instruments?
A. Right setting
B. Requisite in form
C. Presentment
D. Unconditional
Mail transfer, Demand draft and Telegraphic transfer are classified according to ( )
A. Relationship between settlement instruments and capital flow
B. Different delivery tools are used
C. Different bills of exchange are used
Different confirmation methods
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