12. What happens first when a bank refuses to pay under a letter of credit?
A. The bank will cite a “discrepancy”, some aspect of the documentation that
is not in line with with the terms of credit
B. A check – list of commonly cited discrepancies will be used by banks
C. The exporter will have to re-submit their shipping documents
D. The exporter must contact the buyer asking the buyer to instruct the issuing
bank to extend the date of credit
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