If the reimbursement authorization is silent, who is responsible for the reimbursing bank charges?
(1)( ) the Reimbursing Bank (2)( ) the Confirming Bank
(3)( ) the Issuing Bank (4)( ) the beneficiary
(1)( ) the Reimbursing Bank (2)( ) the Confirming Bank
(3)( ) the Issuing Bank (4)( ) the beneficiary
(1)( )revocable. (2)( )irrevocable.
Under a claim for reimbursement at sight, there are two kinds as follows:
(1)()A claim for reimbursement at sight in the form of a teletransmission
(2)( )A claim for reimbursement at sight in the form of an original letter
(3)( )A claim for reimbursement at sight in the form of a sight draft
Reimbursement undertaking in its character is
(1)( )revocable. (2)( )irrevocable.
(1)( )latest date for presentation of a claim including any usance period.
(2)( )terms and conditions of the Undertaking.
(3)( )the letter of credit expiry date.
(4)( )party to pay the Reimbursement Undertaking fee, if other than the issuing bank.
(1)( ) parties responsible for charges.
(2)( ) a requirement for a certificate of compliance from the Claiming Bank.
(3)( ) additional amounts payable and tolerance, if any.
(4)( ) credit number.
(1)( ) Issuing Bank
(2)( ) Confirming Bank
and why?
In Reimbursement Authorization, the issuing bank should not have the following requirements:
A. Certificate of compliance
B. Parties responsible for charge
C. Sight draft (s)
D. Time draft (s)
(1)( )A, B only (2)( )A, C only
(3)( )B, D only (4)( )C, D only
On the maturity date in accordance with UCP 600 Article 8a and 8c the confirming Bank B ______ to the Nominated Bank C, because UCP 600 Article 8c stipulates: "A confirming bank's undertaking to reimburse another nominated bank is independent of the confirming bank's undertaking to the beneficiary."
A. On the maturity date in accordance with UCP 500 Article 9ii and Article 15, issuing bank ______ to the nominated bank.
B. On the maturity date in accordance with UCP 600 Article 7aIII, 7c and Article 12b, the issuing bank ______ to the nominated bank, because UCP 600 Article 7c stipulates: "An issuing bank's undertaking to reimburse a nominated bank is independent of the issuing bank's undertaking to the beneficiary. "