IIP301_Documentary Collection

The advantages of importers in D / P and D / A are the same.

• True

• False

According to the ICC URC 522, the following documents are commercial documents?

• Drafts

• Acceptances

• Promissory Notes

• Invoice

According to the ICC URC 522 following documents are financial documents:

• bill of exchange

• invoice

• bill of lading

• contract

Who sets up D / P collection terms?

• Importer

• Exporter

• Remitting Bank

• Collecting Bank

__________ is the key document prepared by the seller specifying the terms and conditions of the documentary collection.

• The bill of lading

• The delivery order

• The collection order

• The economic order

In documentary collections, the party that signs or accepts the drafts is:

• Remitting bank

• Collecting bank

• Drawee

• Principal

In documentary collections, the remitting bank _____ the documents listed on the collection received from their customer.

Choose one answer

• holds

• reviews

• transfers

• checks

In international transactions, the collection order is submitted by the exporter:

• before the shipment of goods

• immediately right at delivery date

• when the importer received goods

• after the shipment of goods

Not belong to different types of collections:

• Payment documents against acceptance

• Acceptance documents against payment

• Documents against payment

• Documents against acceptance

Choose correct statement about documentary collections:

• The exporter's bank has obligations to pay upon presentation.

• The exporter's bank has no obligations to pay upon presentation.

• The importer's bank has obligations to pay upon presentation.

• The importer has no obligations to pay upon presentation.