Multiple choice

___________represents the first beneficiary in their absence, wherein the credits belonging to original beneficiary is transferable as per terms.

  1. Advising bank

  2. Second beneficiary

  3. Primary beneficiary

  4. Reimbursing bank
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Second beneficiary is one of the other parties involved in Letter of Credit. Second beneficiary who represents the first beneficiary or original beneficiary in their absence, wherein the credits belonging to original beneficiary is transferable as per terms.

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