Wordman Bank, Allied Bank, InvestoPac Bank, and Timoso Bank Combine

Wordman Bank, Allied Bank, InvestoPac Bank, and Timoso Bank combine their resources and form a syndicate to provide funds for AllieShips, a large ship manufacturing corporation. Which of the following is most likely to be true of the syndicate?

A) The syndicate minimizes the risk to any individual bank.
B) All the banks in the syndicate have the authority to negotiate their own terms of credit.
C) The syndicate requires AllieShips to present a commercial letter of credit from the company's previous bank.
D) The syndicate is not allowed to charge underwriting and commitment fees.