Quizz 3 iip301 exam - Study guides, Class notes & Summaries

1 When receiving incomplete or unclear instructions for the L/C, the advising bank would be held responsible for: a. notifying the buyer first b. notifying the seller first c. notifying the issuing bank first d. notifying the confirming bank first C 2 Choose the correct statement: a. Utilization is the process of the seller shipping the goods, presenting documentation and getting paid. b. Utilization is the process of the seller shipping the goods, presenting documentation and op...