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CTP · Question #61
CTP Question #61: Real Exam Question with Answer & Explanation
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Question
- (Topic 1) A bank issues a letter of credit (L/C) and receives a request for payment under the L/C. The buyer notifies the issuing bank not to make payment because there is a dispute over terms of the L/C. Which of the following statements is true?
Options
- AThe buyer may immediately return the merchandise and cancel the L/C.
- BThe bank may delay payment until reimbursed by the buyer.
- CThe bank may delay payment, provided the seller is notified of the dispute within three
- DThe bank must make payment and is entitled to immediate reimbursement from the
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