Exercises - II (3)

This credit is subject to the Uniform Customs and Practice for Documentary Credits(2007 Revision)ICC Pub No.600.

We hereby agree with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of this credit, that such drafts will be duly honored on due presentation to the drawee.

The form of this L／C is ___________________.

This L／C was issued on________________ and would expire on ________________.

The beneficiary’s office locates in ___________________.

The goods must be shipped not later than ___________from _______________ to _____________________. The drawer of the documentary bill should be __________________________________________________.

②Based on the information in the above L／C，which of the following is(are) true or false？

( ) The issuing bank is also the drawee bank.

( ) This L／C can only be negotiated with the advising bank. ( ) Partial shipment is not allowed. ( ) Transshipment is allowed.

( ) The price terms of the transaction is FOB.

( ) There are 4 kind of documents relative to the goods required under the L／C. ( ) The issuing bank doesn’t ask for confirmation by another bank.

( ) The beneficiary must present the full set of documents within 20 days after the

shipment date.

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