3) A payment method where the nominated bank will give the beneficiary an irrevocable deferred payment undertaking" to the effect the bank will pay on a certain future date? Who will be the drawee of the draft? Why do traders use this payment method? What would be another name for this type of credit? 4) A payment method where the nominated bank or "any bank" will purchase complying docs. and/or draft and pay the beneficiary? Who will be the drawee of the draft? Do you think the beneficiary gets full value of draft?