AN FOB SALES CONTRACT AGREES THAT THE EXPORTER CAN DEPOSIT THE GOO...

36. an FOB sales contract agrees that the exporter can deposit the goods in a

warehouse if the ship arrives late and that this counts as delivery. If the letter of credit

requires a bill of lading and makes no mention of a warehouse receipt,

A. the exporter will still be paid against a warehouse receipt

B. the bank simply cannot pay against a warehouse receipt

C. the buyer refuses to pay the exporter against a warehouse receipt

D. the buyer still has to pay the exporter against the warehouse receipt because his

designated vessel has arrived late at the point of loading