Under documentary credit, the buyer is entitled to take delivery of the goods from the carrier or its agent before settling the payment.
第1题:
Under a standby letter of credit, ______.
A.evidences of the underlying transaction should be filed first
B.the applicant may be exempted from any liabilities
C.the issuing bank has to pay the beneficiary
D.the issuing bank should pay when the applicant fails to fulfill his obligations
第2题:
The terms of payment are important for both the seller and the buyer. For the seller, the best terms would be full payment ________. We’re flexible, adaptable and innovative. Everything we do is about your bu cash at the time of sale. But the buyer would prefer to have the goods before making payment. Importers and exporters are separated from each other by ________. We’re flexible, adaptable and innovative. Everything we do is about your bu?of miles. This adds to the difficulties of ________. We’re flexible, adaptable and innovative. Everything we do is about your bu an agreement of payment. However, exporters and importers usually meet each other half-way and agree to payment by a Letter of Credit. A letter of credit (L/C) is a banker’s guarantee that payment will be made, if all the required shipping documents are presented. * In this way, exporters receive a guarantee not only from importers, but also from a bank. * On ________. We’re flexible, adaptable and innovative. Everything we do is about your buhand, importers are given the guarantee that the bank will not make payment unless all the shipping documents are presented. Nevertheless, the exporter can further require an ________letter of credit. That means the guarantee of payment cannot be cancelled either by the opening bank or the importer.
第3题:
These are four main methods of securing payment in international trade: (1) payment under documentary credit (2) open account (3) collection, that is document against payment or acceptance of a bill of exchange (4) payment in advance From an exporter's point of view, the order of preference is ______.
A.(4), (2), (3), (1)
B.(4), (1), (3), (2)
C.(4), (3), (1), (2)
D.(2), (4), (1), (3)
第4题:
The documentary collection provides the seller with a greater degree of protection than shipping on ______.
A.documentary credit
B.banker's letter of guarantee
C.banker's draft
D.open account
第5题:
听力原文:Our company will apply for a sight letter of credit for settlement instead of documentary collection.
(10)
A.Our company prefers an L/C to collection.
B.Our company will apply for documentary collection.
C.Our company will apply for either documentary collection or sight letter of credit according to your advice.
D.Our company will adopt neither documentary collection nor letter of credit.
第6题:
Standby letters of credit are relatives of documentary letters of credit because ______.
A.they are very similar to ordinary letters of credit in operation
B.the issuing banks undertake to pay
C.they are normally accompanied by evidences of transactions such as non-negotiable copies of B/L or other documents
D.they call for all kinds of normal documents
第7题:
听力原文:What is it called if a letter of credit is issued for guarantee of performance rather than payment?
(3)
A.Back-to-back credit.
B.Reciprocal credit.
C.Documentary credit.
D.Stand-by credit.
第8题:
According to the passage, a documentary letter of credit is one which ______.
A.includes any drafts
B.includes drafts accompanied by invoice, bill of lading and other documents
C.is accompanied by invoices, bill of lading and other documents
D.is accompanied by drafts as well as insurance policy and commercial invoices
第9题:
The purchaser of a draft/documents presented under a straight documentary credit only has the right ______.
A.to protest the issuing bank
B.to present the drafts/documents on behalf of the beneficiary
C.to purchase the beneficiary's drafts/documents
D.to present the draft/documents by himself
第10题:
听力原文:Although banks are involved in documentary collection, they offer no bank guarantee to either the buyer or the seller.
(10)
A.Banks may guarantee the buyer or the seller in documentary collection.
B.Banks act as agents without responsibility of guarantee on either side.
C.Banks offer bank guarantee to both the buyer and the seller in documentary collection.
D.Banks are only responsible for the buyer in documentary collection.