According to UCP500, each letter of credit must specify the period of validity. If the validity period of a letter of credit is "one month" or "six months", but does not specify when to start, then it should be understood as starting from ().
A. date of bill of lading
B. L/C opening date
C. the date on which the letter of credit is advised
D. presentation period of documents
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When using the method of collection, whether the collecting bank should pay for the payment? ()
A. has no responsibility
B. take part of the responsibility
C. has responsibility
D. it depends on the situation
If the credit has not indicated the drawee, the drawee should be written as().
A. applicant
B. issuing bank
C. negotiating bank
D. advising bank
The basis of bank's examination and negotiation are().
A. contract and letter of credit
B. contracts and documents
C. documents and letters of credit
D. letter of credit and power of attorney
In practical business, it is most common to issue a letter of guarantee in the form of ().
A. straight open
B. notification through advising bank
C. being opened bythe transmitting bank
D. being opened by the transfer bank