IIBF Trade Finance Practice Questions - IIBF Certificate Examination In International Trade Finance (India) Exam

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Under UCP 600, which of the following actions constitutes 'Honour' when a Letter of Credit is available by deferred payment?

Paying at sight upon presentation of complying documents. Accepting a draft drawn by the beneficiary and paying at maturity. Incurring a deferred payment undertaking and paying at maturity. Negotiating drafts and documents by purchasing them at a discount.

Correct Answer:

Incurring a deferred payment undertaking and paying at maturity.

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