Bank of China informs the beneficiary， a Chinese import and export company that a foreign bank has opened a letter of credit in his favor. The bank does not add its engagement by informing the beneficiary. The Bank of China ia acting as （）.

The beneficiary of a transferred credit is ( )

中国大学MOOC: Application for any amendment to a letter of credit should be given to the issuing bank by the beneficiary.

( ) gives the beneficiary a double assurance of payment.

Beneficiary’s statement: a statement issued and signed by the beneficiary, certifying that he has done some work according to the stipulations in the credit. ( ) A: 正确 B: 错误

中国大学MOOC: The beneficiary of a transferred credit is ( )

Which of the following statements about remittance (T/T) is not true? () A: Exporter acts as beneficiary. B: Remittance can be canceled by the remitter before Paying Bank effects payment to Beneficiary. C: Paying bank should effect payment strictly according to the payment instruction received from the remitting bank. D: Exporter is the Remitter.

中国大学MOOC: True or False: Beneficiary’s statement: a statement issued and signed by the beneficiary, certifying that he has done some work according to the stipulations in the credit. ( )

（ ） is the bank that makes payment to the beneficiary against presentation of stipulated documents.

In your simulation case,Beneficiary's certificate is one of the documents for presentation .