QUESTIONS- Based on the above credit answer the following ( Show your answer in the answer part against Q # ). (Total 30 marks)

Q1. What is the expiry date of this credit (2 marks) (Your answer should be in DD/MM/YYYY format)

Q2. Name of the the Issuing Bank? (2 marks)

Q3. Which bank is the Nominated bank? (2 marks)

Q4. Who is the seller of goods? (2 marks)

Q5. What should be the tenor of the draft? (3 marks) - The answer to this question is not L/C or Doc. credit.

Q6. How many original and copies of commercial invoice is to be presented? (3 marks)

Q7. Who should be the consignee on the B/L? (3 marks)

Q8. Who should arrange Insurance ? (2 marks) Specific dollar value of insurance coverage? (2 marks)

Q9. This container caught fire after the goods were handed to the carrier but on the way to the seport in Canada. Which party gets compensated from insurance co.& why ? (4 marks)

Q10. Briefly explain what pament method is used within the credit, what the beneficiary should do to get paid and how the beneficiary will get paid in this credit (5 marks)