Which of the following is a document used to give the title of the products to a bank?
A) bill of lading
B) letter of credit
D) promissory note
A _____ states that the bank will pay a specified sum of money to a beneficiary,normally the exporter,on presentation of particular,specified documents.
A) bill of exchange
B) bill of lading
C) letter of credit
D) bank statement
Bank charges on letter of credit will depend on the _____.
A) exporter's creditworthiness
B) size of the transaction
C) exporter's means of finance
D) time taken to approve sale
A draft used in international transactions _____.
A) is a document requesting payment
B) explains the conditions of a contract
C) is the same as a letter of credit
D) gives bank guarantee to an exporter