单选题 {{B}}Section One{{/B}} Directions: There are
three passages in this section. Each passage is followed by some questions or
unfinished statements. For each of them, there are four choices marked A, B, C
and D.
Passage 1
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. 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-payment by the applicant. The second is the indemnity for minor
discrepancies in the documents given to the shipping company so that the issuing
bank may make payment or the shipping company may release goods to the
applicant.
单选题
According to the passage, a documentary letter of credit is one which ______.
【正确答案】
B
【答案解析】文章第一段提到Most commercial letters of credit...drafts drawn under the terms of the credit。跟单信用证必须包括依据开信用证条款项下所开具的单据。
单选题
A clean credit is one which ______.
【正确答案】
C
【答案解析】光票信用证是不附单据、受益人可以凭开立收据或汇票分批或一次在通知行领取款项的信用证。
单选题
Under a standby letter of credit, ______.
【正确答案】
D
【答案解析】文章第二段提到The first is the standby letter of credit...carry out his obligations。在备用信用证条款下，只有当申请人不履行条款中所付的责任时，开证行才承担责任。
单选题
The indemnity may be ______.
【正确答案】
A
【答案解析】文章最后提到the indemnity for minor discrepancies in the documents, 由此可知A选项符合题意。
单选题
Standby letters of credit are relatives of documentary letters of credit because ______.