T/F

1. A bill of exchange is an unconditional order of payment issued by a drawer

2. In collection transaction, if parties agree to use D/P and T/R, seller bears the risks in case the buyer does not pay

3. Collection is more disadvantageous to the seller while remittance is more disadvantageous to the buyer

4. In D/D transaction, seller is paid by a banker's demand draft issued by remitting bank with paying bank as drawee, therefore this mode of payment is based on bank credit.