Question: The _ _ _ _ _ _ _ _ bank is the bank, when applicable, that adds its additional guarantee to pay under the letter

The ________ bank is the bank, when applicable, that adds its additional guarantee to pay under the letter of credit.
advising
confirming
beneficiary
applicant

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

A Canadian importer has been asked by his trade partner(exporter) to do the payment in advance. what would be your suggestion to the importer to cover the risk of one shipment by the exporter? ask...

Q:

1.Under which circumstances the back-to-back L/C is essential?* a)If the ultimate seller requires cash or a negotiable L/C. b)If the importer is willing to open a transferable L/C. c)If the ultimate...

Q:

1.A Canadian company is negotiating with a Chinese company to lamber, the Chinese buyer is insisting to pay the amount of this business with Chinese RMB, and the Canadian company is trying to use a...

Q:

Multiple choice questions 1.International trade finance instruments, risk insurance, international financial institutions and aid agencies, and risk transfer are all different risk mitigation options...

Q:

It is becoming widely expected that interest rates will rise in the coming year. In recent weeks the 10 year US bond has risen from about 1.50% to 1.80%. Using the appendix for chapter 2 on Webster...

Q:

The _ _ _ _ _ _ _ _ bank is the bank, when applicable, that adds its additional guarantee to pay under the letter of credit. advising confirming beneficiary applicant

Q:

1. Which of the following incorrectly states the role of banks in import/export transactions involving a letter of credit (L/C)? a. The importer's bank is neither advising nor confirming bank. b. The...

Q:

Developer and Owner contract to develop and sell Owner's land as an upscale subdivision built around a golf course. When the subdivision is developed, the adjacent land owned by Farmer will...

Q:

Developer and Owner contract to develop and sell Owner's land as an upscale subdivision built around a golf course. When the subdivision is developed, the adjacent land owned by Farmer will...

Q:

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 importers bank? * Presenting bank The remitting bank The...

Q:

FASB Statement No. 115 changed accounting principles with respect to certain marketable securities. An important part of this Statement is the distinction between investments categorized as trading,...

Q:

Explain how a competitive firm reaches a decision to temporarily shut down its business on the basis of its Average Variable Cost (AVC) and makes a decision to exit the market altogether on the basis...

Q:

What are the different types of network cables used in networking?

Q:

Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,950 gallons @ $9.10 per gallon = $17,745 Purchases: Sales: Mar. 10 790 gals @ $ 9.15 Mar. 5 590 gals Mar. 16...