Once the importer refuses to pay by collection, the () will be responsible for the cargo release, customs clearance, warehousing, and reselling in the importing country.
A. drawee
B. principal
C. importer's bank
D. exporter's bank
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A () credit is normally used in processing trade.
A. back to back
B. transferable
C. reciprocal
D. revolving
If a bank other than the issuing bank guarantees the payment under an L/C, this L/C is a/an ().
A. confirmed credit
B. non-transferable credit
C. irrevocable credit
D. negotiable credit
A credit stipulates that the quantity of the bulk cargo is 1,000 M/T and the total amount is USD 0.9 million. It shows no "more or less clause" and partial shipment is not allowed. According to UCP 600, ()
A. the quantity and total amount of the goods delivered can be 5% more or less, while the total amount cannot exceed USD 0.9 million.
B. the quantity and total amount of the goods delivered should not increase or decrease.
C. the quantity and total amount of the goods delivered can be 5% more or less.
D. the quantity and total amount of the goods delivered can be 10% more or less.
In L/C settlement, the obligation of the advising bank is ()
A. to buy a documentary draft
B. to issue the L/C upon the application of the importer
C. to make actual payment
D. to notify the seller of the arrival of the L/C
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