Pay issuing bank's attentions to the following:

provide it with notice of when they will be debiting the Issuing Bank's account to pay a reimbursement claim. This notice is defined as ______. This requirement is placed in the Reimbursement Authorisation and in the credit to indicate the requirement for pre-debit notification from the Reimbursing Bank to the Issuing Bank and number of day within which the issuing bank has to be notified.

by deferred payment. The beneficiary requests that the confirming bank purchase the documents and prepay against its undertaking. In accordance with UCP 600, which of the following may be the correct course (s) of action for the confirming bank？

A. ( ) Obtain the issuing bank's agreement prior to paying the beneficiary.

B. ( ) Refuse the beneficiary's request while undertaking to pay at maturity.

C. ( ) Prepay the deferred payment undertaking.

D. ( ) Obtain an agreement for recourse to the beneficiary.

(1)( ) A only.

(2)( ) D only.

(3)( ) B and C only.

(4)( ) C and D only.

e to pay the seller.( )

The differences between a bill and a cheque are as follows:

Bill

(1)The drawee may be any person.

(2)There are four kinds of tenor for the bills.

(3)After acceptance the acceptor is primarily liable for payment.

(4)Before issuing a bill, the drawer may not open an account with drawee.

(5)A bill other than a banker's demand draft or stipulation in Article 5 of Cheque Act cannot be crossed.

(6) Acceptance made by acceptor is irrevocable.

(7)A bill can be drawn in a set.

Cheque

(1)The drawee must be a ______.

(2)The tenor is merely payable ______.

(3)The ______ is always primarily liable for payment.

(4)Before issuing a cheque, the drawer must be a customer who has opened an ______ with the paying bank and ______ money in the account.

(5)A cheque can be ______.

(6)Duty and authority of paying bank to pay a cheque may be terminated by ______.

(7)A cheque cannot be drawn in a ______.

eds to his own assignee/supplier. This request is worded in the form of an ______ which should be authenticated by another bank.

pay the loan by presenting documents？

A．The Australian bank will have had the right to demand repayment, with interest, from the Issuing Bank.

B．The Australian bank would have been entitled to demand repayment, with interest, from the Issuing Bank.

C．The Australian bank would have had the right to demand repayment, with interest, from the Issuing Bank.

D．The Australian bank would be entitled to demand repayment, with interest, from the Issuing Bank.

change. Which of the following course of action could take place？______.

A．He is obliged to pay as the documents were in order.

B．He can instruct the issuing bank not to debit him.

C．He can pay a reduced amount to compensate for the inferior goods.

D．He instructs the issuing bank to return the documents with a payment refusal statement to the beneficiary.

Claim reimbursement by means of a Time draft

A Credit available by acceptance

1.Name of Issuing Bank Place and date of issue

Dresdner Bank Hamburg, 15 April, 200 x

To: China National Light Indus- This Credit is advised through

trial Products Imp. & Exp. ICBC, Tianjin

Corp., Tianjin Branch,

Tianjin

Dear Sirs,

By order and for account of the applicant, we hereby issue an Irrevocable Documentary Credit No. H169087 for USD25,730.00 to expire on 31 May, 200× at Tianjin available with The Industrial and Commercial Bank of China, Tianjin by acceptance against beneficiary's draft at 90 days sight drawn on ICBC, Tianjin (advising bank) and the documents detailed herewith:

______________________________________________________________________________

Partial shipments not allowed. Transhipment allowed.

All charges outside Issuing Bank's country including acceptance commission are for account of beneficiary.

______________________________________________________________________________

If this Credit shall be duly accepted on presentation to drawee bank and duly honoured at maturity.

______________________________________________________________________________

Bank-to-Bank Instructions:

Accepting bank is to draw their time draft on Bank of America, New York payable at a fixed future time i. e. maturity of accepted beneficiary's drafts.

Reimbursements under this Credit are subject to the Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credit, ICC Publication No. 725.

2.

From: Dresdner Bank, Hamburg

To: Bank of A.merica, New York

Reimbursement Authorisation

We hereby issue a Reimbursement Authorisation to you to accept and pay a time draft drawn on you subject to Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits, ICC Publication No. 725 upon receipt of such draft presented by the Claiming Bank——The Industrial and Commercial Bank of China, Tianjin in accordance with the following:

(1)Credit number: H169087

(2)Currency and amount: USD25, 730. 00

(3)Additional amounts payable: no

(4)Claiming Bank: ICBC, Tianjin

(5)Parties responsible for charges: beneficiary

(6)Tenor of draft: maturity of accepted beneficiary's draft

(7)Drawer: ICBC, Tianjin

(8)Party responsible for acceptance commission: beneficiary

3.

beneficiary's draft

Due 3 August, 200×

Exchange for USD25, 730. 00 Tianjin, 4 May, 200×

At 90 days sight pay to the order of

Ourselves the sum of

US dollars twenty five thousand seven hundred and thirty only

Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×.

To The Industrial and Commercial

Bank of China, Tianjin For China National Light

Industrial Products Imp.

& Exp. Corp., Tianjin

Branch, Tianjin

signature

ACCEPTED

5 May, 200×

to mature

3 Aug., 200×

For

The Industrial and

Commercial Bank of

China, Tianjin

signature

4.Please fill the following particulars in two blank forms to write a Letter of Reimburse Claim and to issue a Time Draft:

(1)Addressee or drawee: Bank of America, New York

(2)Sender or drawer: The Industrial and Commercial Bank of China, Tianjin

(3)Amount: USD25,730.00

(4)Date of Letter of Reimbursement Claim and Draft: 24 July, 200×

(5)Predetermined reimbursement date: 3 Aug., 200×

(6)Payee: ICBC, Tianjin

(7)Accounting procedure: crediting our Head Office account with you under your telex advice to us quoting our Ref. No. BP87654321.

(8)Drawn clause: Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×

Disposition of discrepant documents by the nominated bank in the following six methods:

(1) ( )Return just the discrepant documents for correction and resubmission within the

validity of the Credit and within the latest date for presentation of above document.

(2) ( )Upon authorization by the presenter, forward the discrepant documents on "an approval" basis under documentary credit to the Issuing Bank for review and approval or rejection of the documents.

(3) ( )If so authorised by the presenter, cable, telex, or telecommunicate with the issuing bank for authority to pay, accept, or negotiate against such discrepant documents.

(4) ( )Remittance of Documents for Collection.

(5) ( )Call for an indemnity from the beneficiary or from his bank, pay, accept or negotiate on the undertaking that any payment, acceptance or negotiation made, will be refunded by the party giving such indemnity together with interest and related charges, if the issuing bank refuses to provide reimbursement.

(6) ( )With the agreement of the beneficiary, pay, accept or negotiate "under reserve", i. e. the bank retains the right of recourse against the beneficiary if the issuing bank refuses to provide reimbursement against documents that do not meet the credit requirements.

wing except

(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.