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1.

NO, besides from UCP 600, there are other UCPs like UCP
500 and 400. Depending on the consensus between
exporters and importers, they will decide which kind of
UCP to be applied.
2. Exporter will nominate the advising bank. Yes, beneficiary
or exporter can choose the advising bank
3. Banks will negotiate before or on the banking day. During
this process, nominated bank purchases drafts (drawn on a
bank other than the nominated bank) and/or documents
under a complying presentation, by advancing or agreeing
to advance funds to the beneficiary on or before the
banking day on which reimbursement is due to the
nominated bank.
4. If L/C do not define that L/C is revocable or irrevocable,
the L/C will be irrevocable
5. NO, because L/C is just a letter from a bank guaranteeing
that a buyer's payment to a seller will be received on time
and for the correct amount. Meanwhile, there still needs to
be an import-export contract to clearify responsibilities of
both exporter and importer, whereby a party called the
seller (exporter) is obliged to transfer ownership to another
party called the buyer (importer) of a certain property
called goods. Buyer is obliged to receive goods and make
payment.
6. Yes, since it is “a copy of document”, then either a copy or
an orginal one is acceptable
7. In a period from 10 July 2015 to 20 July 2015
8. Earliest: 01 August and Latest: 15 September
9. Latest day: 29 September
10. Payable day: 30 July (“from” means to count on that
day)

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