A documentary draft payable within 60 days from the time documents are presented is called a sight draft.
Correct Answer:
Verified
Q9: The strict compliance rule says that the
Q10: The issuing bank is responsible for inspecting
Q11: Banks are required to know or investigate
Q12: A corresponding bank that confirms the letter
Q13: An advising bank is liable for the
Q15: The UCC requires that banks review documents
Q16: Oral acceptance of a draft is allowed
Q17: The difference between a draft and an
Q18: A documentary draft by terms cash against
Q19: Under Article 48 of the UCP, a
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