Which of the Following Correctly States the Role of Banks

question 13

Multiple Choice

Which of the following correctly states the role of banks in import/export transactions involving a letter of credit (L/C) ?

• A)The importer's bank is the advising and/or confirming bank; the exporter's bank is the issuing bank.
• B)The exporter's bank is the advising and/or confirming bank; the importer's bank is the issuing bank.
• C)The exporter's bank is the advising, confirming, and issuing bank.
• D)The importer's bank is the advising, confirming, and issuing bank.
• E)The exporter's bank is the drawee; the importer's bank is the payee.

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Definitions:

Tuberculin Syringe

A small, calibrated syringe used for TB testing, precise measurements of small volumes, and allergy tests.

Precise Dose

Refers to an exact amount of medication calculated and administered to ensure therapeutic efficacy and minimize side effects.