单选题 Passage 3 Most commercial letters of credit are documentary, meaning that certain documents must be included with any drafts drawn under the terms of the credit. Documents required usually include an order bill of lading, a commercial invoice, and any of the following: consular invoice, insurance certificate or policy, certificate of origin, weight list, packing list. Letters of credit without the requirement for presentation of shipping documents or commercial documents are called clean credits, and are similar to, although not legally identical with unconditional first demand guarantees. These credits are extremely flexible and may be used in an almost unlimited variety of situations, from construction bond to the finance of margin requirements on future markets. Two kinds of clean letters of credit which are relative of the documentary letters of credit are of interest. The first is the standby letter of credit, in which the issuing bank undertakes to pay if the applicant does not carry out his obligations. Documents normally called for are evidences of the underlying transaction, such as non-negotiable copies of bills of lading , or third party’s certificate certifying the non-performance of an obligation of the applicant, or the beneficiary’s certificate of non-payment by the applicant. The second is the indemnity for minor discrepancies in the documents given to the shipping company so that issuing bank may make payment or the shipping company may release goods to the applicant.