Which bank has a dual obligation toward the beneficiary and its agent-reimbursing bank？ （1)（)Confi

Reimbursement undertaking in its character is

  (1)( )revocable.  (2)( )irrevocable.

ify them before claiming on the Reimbursing Bank. This notice is de- fined as ______. If a pre-notification of a claim is required by the Issuing Bank, this information must be contained in the credit to indicate the requirement for pre-notification of a reimbursement claim to Issuing Bank and number of days which the Issuing Bank has to be notified.

provide it with notice of when they will be debiting the Issuing Bank's account to pay a reimbursement claim. This notice is defined as ______. This requirement is placed in the Reimbursement Authorisation and in the credit to indicate the requirement for pre-debit notification from the Reimbursing Bank to the Issuing Bank and number of day within which the issuing bank has to be notified.

When a bank issues a credit nominating another bank to be the Reimbursing Bank, the Issuing Bank:

  A. shall send an authorisation to the Reimbursing Bank to honour claims.

  B. shall require the Claiming Bank to supply a certificate of compliance to the Reimbursing Bank.

  C. shall not be responsible for any interest should the Reimbursing Bank fail to honour the claim.

  D. shall not be relieved of its obligation under the credit, should the reimbursing bank fail to honour the claim.

  (1)( )A, C, D only  (2)( )A, D only

  (3)( )A, B only    (4)( )B, C, D only

According to the URR725, all Reimbursement Authorisations must include all of the following except

  (1)( ) parties responsible for charges.

  (2)( ) a requirement for a certificate of compliance from the Claiming Bank.

  (3)( ) additional amounts payable and tolerance, if any.

  (4)( ) credit number.

How much time does the reimbursing have to process a claim?

  (1)( )A reasonable time not to exceed 7 banking days following receipt date.

  (2)( )A reasonable time not exceed 3 banking days following receipt date.

  (3)( )Three banking days from receipt date.

  (4)( )Unlimited time following date.

If the reimbursement authorization is silent, who is responsible for the reimbursing bank charges?

  (1)( ) the Reimbursing Bank   (2)( ) the Confirming Bank

  (3)( ) the Issuing Bank     (4)( ) the beneficiary

wing except

  (1)( )latest date for presentation of a claim including any usance period.

  (2)( )terms and conditions of the Undertaking.

  (3)( )the letter of credit expiry date.

  (4)( )party to pay the Reimbursement Undertaking fee, if other than the issuing bank.

In Reimbursement Authorization, the issuing bank should not have the following requirements:

  A. Certificate of compliance

  B. Parties responsible for charge

  C. Sight draft (s)

  D. Time draft (s)

  (1)( )A, B only  (2)( )A, C only

  (3)( )B, D only  (4)( )C, D only

According to time of claim for reimbursement, there are two kinds as follows:

  (1)( )A claim for reimbursement at sight

  (2)( )A claim for reimbursement on a fixed future date

  (3)( ) A claim for reimbursement at a tenor