【简答题】A Chinese company exported food products to Rotterdam under L/C. The L/C issued by the buyer stated that the exporter should provide Sanitary Inspection Certificate in which the wording "the food free...
【简答题】After Bank X advised exporter Y of the L/C, the shipment was made. When the cargo was on the way, the importer filed for bankruptcy. Does this mean Y cannot collect money ?Can the opening bank refuse ...
【单选题】A Swiss Bank issued a credit and an Indonesian Bank negotiated it and gave value to the beneficiary. After the negotiation the negotiating Bank claimed reimbursement and received the funds from the re...
A.
Issuing bank undertakes to pay the beneficiary upon receipt at its counters of conforming documents.
B.
Risk of documents lost in transit passed from the beneficiary to the issuing bank when conforming documents were accepted by the nominated bank or by the negotiating bank in a freely negotiable credit, the issuing bank must honor complying documents even if they are lost in transit.