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Which corrodes easier - pure iron or steel?

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126. Which of the following is discouraged under UCP 600?a) The goods description field states 'goods per the copy of the proforma invoice appended to the credit which forms an integral part of the credit'.b) A copy of the sales contract is submitted with the credit application to the issuing bank and there is no reference to such attachment within the credit application.c) The additional conditions field states that this credit is relative to sales contract XYZ and that all documents must state 'details per purchase order 123 and contract XYZ'.d) A copy of the purchase order is provided to the issuing bank for information purposes only and the goods description field of the credit application includes details of the purchase order.

143. At the request of the issuing bank, a reimbursing bank has issued its reimbursement undertaking infavour of a nominated bank. The beneficiary notify the nominated bank of the documentary credit and subsequently presents documents direct to the issuing bank for settlement. What best describes the action that the issuing bank should now take?a) Check the documents and, if compliant, make payment to the beneficiary through the reimbursing bank.b) Check the documents and, if compliant, make payment to the beneficiary and seek cancellation of the reimbursement undertaking.c) Return the documents to the beneficiary and request that documents be presented through the nominated bank.d) Return the documents to the beneficiary and request that documents be presented to the reimbursing bank to enable the reimbursement undertaking to be utilised.

140. A confirming bank receives a documentary credit containing the following additional condition: 'carrying vessel must not be older than 15 years'. Upon receipt of the documents from the beneficiary, the confirming bank must:a) Look for this statement on one of the documents.b) Deem such a condition as not stated and disregard it.c) Require the beneficiary to issue a statement of compliance.d) Refuse payment to the beneficiary until receipt of the issuing bank's clarification.

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