A beneficiary, in accordance with the provisions of the applicable law, has the right to assign any

Expiry date Beneficiary Discrepancy Letter of credit Implement

A credit can be transferred

(1)( ) from the first beneficiary to the second beneficiary.

(2)( ) from the second beneficiary to the third beneficiary.

(3)( ) from the third beneficiary to the fourth beneficiary.

If a credit is transferred to more than one second beneficiary (ies), refusal of an amendment by one or more second beneficiary (ies)

(1)( ) will be invalid the acceptance by the other second beneficiary (ies).

(2)( ) does not invalidate the acceptance by the other second beneficiary (ies).

(1)( ) the applicant

(2)( ) the issuing bank

(3)( ) the first beneficiary

(4)( ) the second beneficiary

Under negotiation credit, the negotiating bank make payment to the beneficiary

(1)( ) with recourse.

(2)( ) without recourse.

There are three kinds of advising amendment to the transferee:

(1) ______ of beneficiary's rights on amendments.

(2) ______ of beneficiary's rights on amendments.

(3) ______ of beneficiary's rights on amendments.

A.donee beneficiary

B.creditor beneficiary

C.incidental creditor

D.subsequent assignee

(7)

A．To benefit, all the documents are to be combined with the credit.

B．All the documents are to be made by the beneficiary for the credit.

C．All the documents are to be made in conformity with the terms and conditions of the credit.

D．The beneficiary will make the documents combined with the terms and conditions of the credit.

(8)

A．The trustor, the beneficiary and the settlor are primarily three principal parties.

B．The trustor, the beneficiary and the trustee are primarily three principal parties.

C．The trustor, the beneficiary and the grantor are primarily three principal parties.

D．The trustor, the beneficiary and the donor are primarily three principal parties.