5. 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 the terms of the 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 the credit.
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