In the Event That a Discrepancy Is Found in the Documents

question 33

Multiple Choice

In the event that a discrepancy is found in the documents presented under a letter of credit,the bank may request a waiver or:

• A) resubmit the draft.
• B) void the transaction.
• C) refuse delivery.
• D) refuse to pay against documents.

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Definitions:

Formal

Pertaining to conventions, rules, or established procedures often recognized by official institutions or customs.

Strategic Ambiguity

The deliberate use of vague or indistinct language to achieve a specific objective or to adapt to multiple situations.

Multiple Goals

The presence of more than one objective that an individual or organization aims to achieve.

Tenuous

Describes something that is very weak, slight, or uncertain; having little substance or significance.