If there is no specific provision, the draft under a letter of credit should draw on the______
A. advising bank advising bank
B. issuing bank
C. negotiating bank
D. applicant
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____A letter of credit which does not indicate whether it is revocable or not is regarded as irrevocable.
____A letter of credit not mentioning it is nontransferable will be seen as transferable.
____Using a third currency in collecting payment is the best protection against currency risk for the seller.
____Since under L/C the sell gets payment from a party independent of the buyer it is the safest mode for him.