III True or fal se. If true, write "T". If fal se, write "F" and then correct it (2 point s for each). ( ) [1] A sight bill needs not to be accepted. ( ) [2] Although both buyer and seller would wish that the other party finance the transaction, the realities are that both of them typically need to compromise somewhat in order to make the transaction happen. ( ) [3] Multimodal transportation means transportation from one country to another. ( ) [4] Under M/T, the remitting bank issues a draft and authorize its foreign correspondent by mail to make to the beneficiary. ( ) [5] The principal should take great care in preparing the collection application so that it gives complete and clear instructions. ( ) [6] Under collections, banks are required to act in good faith and exercise reasonable care to verify that the documents submitted are authentic. ( ) [7] Without explicit instructions, the collecting bank takes no steps to store or insure the goods. ( ) [8] Under collections, risks to the seller center around the fact that payment is not made until after the goods are shipped. ( ) [9] A received for shipment B/L indicates that the goods have been loaded on board on a named vessel. ( ) [10] The confirming bank can return the incorrect documents directly to the seller for correction or replacement