Payment for bills drawn under letter of credit should be made by the negotiating bank
A. after the documents are approved by the issuing bank.
B. immediately or on a future date depending upon the terms of credit.
C. only in foreign currency.
D. immediately in all cases.
Answer:B
Payment for bills drawn under letter of credit should be made by the negotiating bank
A. after the documents are approved by the issuing bank. B. immediately or on a future date depending upon the terms of credit. C. only in foreign currency. D. immediately in all cases.