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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