4 Letter Words
This common name for a certain type of institution is translated from the Italian word for “bench” or “table” with small change coins.
What is a Bank?
UCP stands for________________
What is Uniform Customs and Practice (for Documentary Credits?
This entity created ISP98.
Who is IIBLP?
This is the ICC Publication Number of ISP98.
ICC Publication number 590
The Article referencing ____________ ____________ states that a bank assumes no liability or responsibility for the consequences arising out of the interruption of its business by Acts of God, riots, ciivl commotions, insurrections, wars, acts of terrorism, or by any strikes or lockouts or any other causes beyond its control.
What is Force Majeure?
This is the acronym for the independent government agency founded in 1934 to facilitate and finance U.S. export trade.
What is EXIM?
The ____________ ____________ is the bank with which the credit is available (or any bank in the case of a credit available with any bank).
What is a Nominate bank?
OFAC is an acronym for a unit in this US Government Department.
Office of Foriegn Asset Control, Who is Department of Treasury.
This SWIFT Message Type is used to send notice of non-extension.
MT785
When a nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank determines that a presentation does not comply, it may refuse to ____________ or ____________.
What is honour or negotiate
JP Morgan Chase and its predecessor organizations have been responsible for the most presidents/chairs since 1922 for this leading global industry association for international transaction banking.
What is BAFT?
In documents other than the ____________ ____________, the description of the goods, services or perfomance, if stated, may be in general terms not conflicting with their description in the credit.
What is a commercial invoice?
180 currencies across the world recognized by this international organization.
Who is the United Nations?
In ISP, this type of standby supports the issuance of a separate standby or other undertaking by the beneficiary.
Counter Standby
By advising the credit or amendment, the advising bank signifies that it has satisfied itself as to the ____________ ____________ of the credit or amendment…
What is apparent authenticity?
Norway is the country that has the least number of characters, 15, in this standardized format which is used for identifying bank accounts internationally.
What is IBAN?
____________ is the purchase of documents by the nominated bank of drafts (drawn on a bank other than the nominated bank) and/or documents under a complying presentation, by advancing or agreeing to advance funds to the beneficiary on or before the banking day on which the reimbursement is due to the nominated bank.
What is Negotiation?
The Office of Anti-Boycott Compliance is part of this US Government Department
Who is Department of Commerce?
This is the term used for a beneficiary’s request to extend the expiration date of the standby or, alternatively, to pay the amount available.
Extend or Pay
Unless a nominated bank is the ____________ ____________, an authorization to honour or negotiate does not impmose any obligation on that nominated bank to honour or negotiate, except when expressly agreed to by that nominated bank and so communicated to the beneficiary.
What is Confirming Bank?
Star Wars, Pokémon and Frozen coins are legal tender on this self-governing island state in free association with New Zealand.
What is Niue?
If a bank is requested to advise a credit or amendment but elects not to do so, it must so inform, without ____________, the bank from which the credit, amendment or advice has been received.
What is Delay?
This European country has the oldest Central Bank and the first to use paper money.
Who is Sweden
Notice of dishonour must be given within a reasonable time - this is how many days ISP considers unreasonable.
Beyond 7 Business Days
Except as otherwise provided by Article ____________, a credit can neither be amended nor cancelled without the agreement of the issuing bank, the confirming bank, if any, and the beneficiary.
What is 38?