Page 45 - Demo

TFP BRAIN
TRAINING DIGEST
_CROSSWORD
TEASERS
The trade finance crossword
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1
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Our crosswords focus
on important trade
finance rules and
test your technical
knowledge of the 5 applicable rules of
practice. This one has a focus on the URR 725 rules.
ACROSS DOWN
1OB2LIGATION 3D I
4D5RAWEE S 6F 7P
I 8LIAB9ILITY T A R
N 10P E R M I T T E D
S A
K Y DISREGARD T C
12
11
TEHL
RSU
GENUINENESS D
C N PROTEST
14N T T D 15 16
OBLIGATION PAYMENT TOT
17E X A M I N E 18F I N A N C I A L O
19D O C U M E N T S
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LAST ISSUE’S NO4 SOLUTIONS
the reimbursing bank, the reimbursement authorisation should not be subject to an ______ date(6)
7. A claiming bank must ___________itsacceptanceor rejection of a reimbursement undertaking amendment to the reimbursing bank (11)
9. A reimbursing bank's charges are for the accountofthe _______bank(7)
11. The issuing bank is responsible for indicating in the documentary credit that _____________ issubjecttothese rules (13)
12. A reimbursement undertaking cannot be amendedor_________withoutthe agreement of the claiming bank (9)
13. The issuing bank shall be bound by and liableto_________thereimbursing bank against all obligations and responsibilities imposed by foreign laws and usages (9)
14. Anauthorisationorrequestbythe issuing bank to the reimbursing bank to issue a reimbursement undertaking is ___________(11)
15. Reimbursement ___________ means a separate irrevocable undertaking of the reimbursing bank, issued upon the authorisation or request of the issuing bank, to the claiming bank (11)
2. A reimbursing bank shall have a maximum of _ _ _ _ _ banking days following the day of receipt of the reimbursement claim to process the claim (5)
4. Areimbursingbankisnot_________ with or bound by the terms and conditions of the credit (9)
5. Reimbursement_____________ means an instruction or authorisation, independent of the credit, issued by an issuing bank to a reimbursing bank (13)
8. ________ bankmeansabankthat honours or negotiates a credit and presents a reimbursement claim to the reimbursing bank(8)
10 Except as provided by the terms of its reimbursement undertaking, a reimbursing bankisnotobligatedto______ a reimbursement claim (6)
NO 3.
A reimbursing bank will not process a request for back _ _ _ _ _ from the claiming bank (5)
1. A reimbursing bank is irrevocably bound to honour a reimbursement _ _ _ _ _ as of the time it issues the reimbursement undertaking
6. Except to the extent expressly agreed to by (5)
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