1. What is NOT the role of bank(s) under letter of credit operations?
[7~8] Below explains international bank guarantee under URDG 758. A. Demand guarantee is a primary, non-accessory obligation towards the beneficiary. B. The guarantor remains liable even if the obligation of the applicant is for any reason extinguished. C. The guarantor may not pay on first demand with making defence. D. This can be used to insure a buyer or a seller from loss due to non-performance by the other party in a contract.
- 1 A
- 2 B
- 3 C
- 4 D