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.
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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
The remittance method with the fastest collection and higher cost is ( )
A. T/T
B. M/T
C. D/D
D/P
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