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InternationalSettlementTest2 Ⅰ.Definethefollowingterms.(16%) 1.remittance 2.mailtransfer 3.collection 4.outwardcollection Ⅱ.Decidewhetherthefollowingstatementsaretrueorfalse.(20%) 1.Therepresentativeincaseofneedappointedbythebuyertoarrangethewarehouseandinsuranceintheeventofnon-acceptanceand/ornon-payment.() 2.TheremittingbankunderD/Disgenerallyreluctanttostoppaymentonadraftissuedbyitselfforwhichwillhaveanunfavorableeffectonitscredit-worthiness.() 3.InD/D,remittingbankdrawsabanker’sdraftonpayingbankorderingthelattertopayinthefuturethestatedamounttotheholderofthedraft.() 4.Apaymentorder,airmailadviceorcreditadviceorpleasedebitadviceisanauthenticatedorderinwritingaddressedbyonebanktoanotherinstructingthelattertopayasumcertaininmoneytoaspecifiedpersonorbeneficiarynamedthereon.() 5.Theonlymeansofauthenticatingacabletransferistheauthorizedsignatures.() 6.Mailtransferisoftenusedwhentheclientwantstotransferthefundstohisbeneficiaryhimself.() 7.Iftheremittingbankopensacurrentaccountwiththepayingbank,thereimbursementmaybeeffectedbydebitingnostroaccountoftheremittingbank.() 8.T/TisfasterandmoreexpensiveascomparedwithM/TorD/D.() 9.Thebuyer(drawee)isgenerallythecustomerofabankwhopreparesdocumentationandsubmitsthemtotheremittingbankwithacolletionorderforpayment.() 10.Documentsagainstacceptanceoffersthegreatersecuritytotheexporterthandocumentsagainstpayment.() 11.Whenthecolletingbankreleasesthedocumentstothebuyeronthetrustreceipt,thelegaltitletothegoodsremainswiththeentruster.() 12.TheremittingbankwillconsidertopurchasethedocumentarybillfromtheselleronlyunderD/A.() 13.Ifthecollectingbankisnotlocatedneartheimporter,itwouldsendthedocumentstoapresentingbankintheimporter’scity.() 14.Underdocumentsagainstacceptance,afteracceptance,thebuyergainspossessionofthegoodsbeforethepaymentismadeandisabletodisposeofthegoods.() 15.Remittanceservesasacompromisebetweencollectionandletterofcreditinsettlementofinternationaltransactionsconcludedbytheimporterandtheexporter.() 16.Collectionbillpurchased