Unit 6: payment in international trade

(a)   is a letter of credit calling for renewed credit to be made available when the issuing bank informs the beneficiary that the buyer has reimbursed the issuing bank for the drafts already drawn

(a)   means two letters of credit with identical documentary requirements, except for the difference in the price as shown by the invoice and draft.

(a)   is a letter of credit that can be drawn against, but only if another business transaction is not performed.

(a)   is a letter of credit issued by a bank and forwarded to the beneficiary by a second bank in his area. The second bank validates the signatures and attests to the legitimacy of the first bank.

(a)   is a letter of credit issued by one bank to which a second bank adds its commitment to pay.

(a)   is a letter of credit that may be canceled at any moment without prior notice to the beneficiary

(a)   is a letter of credit that cannot be canceled nor amended without agreement of all parties

(a)   is a letter of credit under which the documents are forwarded to the importer's bank, while sight draft is presented at a later future date.

(a)   is a letter of credit permitting the beneficiary to receive a sum prior to shipment.

(a)   is a letter of credit that can be utilized by someone designated by the original beneficiary.