Professional Documents
Culture Documents
Read carefully the entire Letter of Credit and answer the questions.
Write (record) the fields’ numbers from where you found the answer, beside each answer:
35
marks
a. Issuing bank
b. Advising bank
c. Type of credit
d. Buyer
e. Seller
f. Settlement
i. Please specify the documents that can be prepared in the office and the documents you have to ask other
organizations to prepare or certify them.
j. How do you get these documents?
k. What do you believe it is the biggest problem when some documents under LC are to be prepared by other
organizations?
l. Does this LC require a DRAFT? What is another name for the draft?
m. This is a CONFIRMED Letter of Credit. Explain what a CONFIRMED LC is and which bank
confirmed this LC. 5 marks
COMMERCIAL INVOICE
Seller Consignee