The credit basis for the demand draft is the commercial credit between the remitter and the payee, and what type of Bill of exchange is used in handling ( )
A. Commercial spot
B. Commercial forward
C. Bank spot
D. Bank forward
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The short for telegraphic transfer is ( )
A. D/D
B. M/T
C. T/T
D. T/D
Telegraphic transfer (T/T) has the features except that ( )
A. T/T is safe.
B. T/T is more expensive than M/T.
C. T/T is fast.
D. In telegraphic transfer, the payment order may be lost.
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
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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