When a letter of credit is used as a method of payment in international transactions,
A) the importing bank has to make the payment if all the documents are in order
B) it is always revocable and the exporter, importer or the bank can refuse to honor the obligations if advance warning is given
C) the usual terms of payments are net 45 days
D) it can be confirmed by a importer's bank for an additional fee
E) it is the least common form of payment in international transactions
Correct Answer:
Verified
Q25: When establishing a subsidiary overseas
A) a company
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A) all commercial banks have
Q27: In international banking
A) deposits of foreign branches
Q28: The following is true for offshore banks
Q29: When an advance payment is used as
Q31: When a documentary collection as a method
Q32: In an open revolving account
A) an exporter
Q33: Under methods of payments in international transactions,
A)
Q34: In global shipping:
A) Tanker carriers transport mostly
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A) the London
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