The responsibilities of the presenting bank in the importing country generally stop at notifying the importer that the documents have arrived and at requesting that the importer endorse the draft or at requesting payment before releasing the documents.This is called trade acceptance.
Correct Answer:
Verified
Q14: An irrevocable letter of credit cannot be
Q15: A date draft goes into effect at
Q16: In a letter of credit,the creditworthiness of
Q17: A date draft transaction solves one of
Q18: Since a draft (or a bill of
Q20: Because some of their cash must be
Q21: Among country risks in international trade are
Q22: The importer's bank is called the
A) applicant.
B)
Q23: The majority of transactions issued in the
Q24: Sometimes a third bank,in addition to the
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