Which of the following is the rule that is usually followed by banks for interpreting documents submitted for payment under a letter of credit:
A) Facial compliance rule
B) Strict compliance rule
C) Reasonable compliance rule
D) Good faith rule
Correct Answer:
Verified
Q33: A bank in the beneficiary's country through
Q34: This network was set up to provide
Q35: A typical letter of credit transaction consists
Q36: A form of financing in which the
Q37: The international rules for letters of credit
Q39: Under the UCP 500, banks have a
Q40: A guarantee from an insurance company to
Q41: The Eximbank's finance export programs include:
A) Loans
B)
Q42: The governing body of rules for standby
Q43: A letter of credit in which the
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