Question
Which of the following types of documentary credit
allows the beneficiary (exporter) to receive payment even if the documents do not comply with the exact terms of the credit?Solution
A revocable letter of credit allows the terms and conditions to be modified or canceled by the importer (buyer) or issuing bank without the beneficiary's consent. This can result in the exporter being paid even if the documents do not fully comply with the letter of credit terms, as long as the changes are acceptable to the involved parties.
Which disaster occured at the Bengaluru’s M. Chinnaswamy Stadium on the 4th June 2025?
Recently, PM Modi received the highest civilian honour "Grand Cross of the Order of Makarios III" from which country?
- To qualify for Maharatna status, a public sector enterprise must maintain an average annual turnover exceeding what amount over the previous three years?
With which country did India sign an agreement to enhance MSME cooperation?
- Rebakanta Mahanta, awarded the Padma Shri in 2025 for his expertise in mask art, hails from which Indian state?
Who among the following is the author of the book 'Life on Mars: Collected Stories'?
Which bank launched the "GIGA" financial suite tailored for gig workers and freelancers in August 2024?
Consider the following statements about India-Indonesia bilateral trade:
1. Total trade between the countries was USD 29.4 billion in 2023-24.
The Great Bath, a remarkable structure of the Indus Valley Civilization, was discovered at:
What is the capital of Canada?
