单选题 Passage 3 A bond is issued by a guarantor, usually a bank or an insurance company, on behalf of an exporter, It is a guarantee to the buyer that the exporter will fulfill his contractual obligations, If these obligations are not fulfilled, the guarantor undertakes to pay a sum of money to the buyer in compensation. This sum of money can be anything from 1% to 100%of the contract value. If the bond is issued by a bank, then exporter is asked to sign a counter indemnity which authorizes the bank to debit his account with any money paid out under the bond. Bonds are usually required in connection with overseas contracts, or with the supply of capital goods and services, When there is a buyer’s market, the provision of a bond can be made an essential condition for the granting of the contract. Middle Eastern countries commonly require bonds , but nowadays many other countries also require bonds, but nowadays many other countries also requite them. Most international aid agencies, such as the World Bank or the European Development Fund, and most government purchasing organizations in the developing world, now require bonds from sellers.

单选题 Before a bank issues a bond for the exporter, the issuer and the applicant should have some kind of agreement in form.

单选题 When the supply for a certain service is less than the demand on the market, the requirement by the importer to get a bond is much ____.

单选题 Under the bond terms in international business, if the exporter fails to fulfil its obligations, the compensation should be paid by ______ .

单选题 Bonds are commonly used in the Middle East area. So ______ .

单选题 Under the bond terms in international business ,after the bank has paid the necessary compensation, it will make an entry to his customer’s account on the side.