Hello tutor, it will be great help if you answer this questions:

On a Clean Payment, the exporter should present the shipping documents to the _____. *

Remitting Bank

Issuing Bank

Nominated Bank

Presenting Bank

None of the above

In transferable L/C which of the followings may be reduced or curtailed in the transfer to the second beneficiary(ies)? *

The amount of the Credit

The unit price of the products/goods therein

The expiry date

The last day for shipment or shipment period

All of the above

Which of the following plays a role to verify that the documents received are as required in the collection order and forwards them to the importer's bank? *

Presenting bank

The remitting bank

The collecting bank

The drawee

Put the following steps for the issuance of a letter of credit in the correct order: I. The issuing bank forwards the letter of credit to the advising bank. II. The advising bank advises the exporter of the received letter of credit. III. The importer instructs its bank to issue a letter of credit in favour of the exporter with pre-negotiated terms. IV. The exporter and importer sign a contract with the requirement to issue a letter of credit *

IV, III, I, II

II, III, I, IV

II, I, III, IV

I, II, III, IV

In which of the following method of payments, risk to the exporter completely relies on importer's payment schedule? *

Irrevocable documentary credit

Sight documentary collection

Consignment

Open account

Both c and d

None of the above

In an irrevocable confirmed L/C transaction, the obligation of the confirming bank does not eliminate the obligation of: *

The Advising bank

The issuing bank

The importer

Both a and b

Both b and c