.Acc. to Article 38 of UCP 600, a transferred credit must accurately reflect the terms and conditions of the original credit. What are the exceptions to this article (What can be changed)?
Please answer the following question, First question need step-by-step explaination.
Question 2 & 3 need answer in 2-3 sentence only.
1.Acc. to Article 38 of UCP 600, a transferred credit must accurately reflect the terms and conditions of the original credit. What are the exceptions to this article (What can be changed)?
2. An issuing bank using the services of a second bank to advise the credit can use a third bank to advise amendments.
A) TRUE
B) FALSE
3. Which of the following is not a requirement for a "bill of exchange (draft)" as per the Bills of Exchange Act.
a. Must be signed by the drawer.
b. The amount payable by the drawee must be specified.
c. The amount is payable on demand or at a determinable future date.
d. The payment obligation of the drawee can be subject to certain conditions being met.
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