The Issuing Bank Is Required to Pay on Documents in Case

question 43

Multiple Choice

The issuing bank is required to pay on documents in case of ____,but not in the event of:

• A) Fraud; breach of warranty.
• B) Delivery of the goods; non-delivery of the goods.
• C) Breach of warranty; fraud.
• D) Issuing banks are not the paying banks.

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Definitions:

Additive Strategy

A problem-solving methodology that involves combining different elements or aspects to find a solution.

Decision-Making

The cognitive process of making a choice or finding a solution from two or more possibilities.

Bounded Rationality

A theory suggesting that decision-makers are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.

Less Than Optimal

A condition or outcome that does not achieve the best possible performance or results.