A Credit subject to the eUCP (eUCP Credit) is() also/() notsubject to the UCP without express incorporation of the UCP.
(1)( ) This credit is subject to eUCP.
(2)( ) This credit is subject to UCP600 and eUCP.
(3)( ) This credit is subject to UCP600 and its supplement.
The requirements of presentations are as follows:
(1)Electronic records presented, the records must state a ______ for presentation of the electronic records.
(2)Both electronic records and paper documents presented, the documents must also state a ______ for presentation of the paper documents.
(3)If an eUCP Credit allows for presentation of one or more electronic records. the beneficiary is responsible for providing a ______ to the Bank to which presentation is made signifying when the presentation is ______.
(4)Each presentation under an eUCP Credit must ______ the eUCP Credit under which it is presented.
(5) An electronic record must be ______.
The eUCP applies to a credit which calls for presentation of documents as follows:
(1)( ) paper documents alone.
(2)( ) electronic records alone.
(3)( ) electronic records in combination with paper documents.
?Read the article below about banking.
?Choose the best word from the opposite page to fill each gap.
?For each question 21-30 mark one letter (A, B, C or D) on your Answer Sheet.
A CHALLENGE TO TRADITIONAL BANKING
Traditional methods of banking are under threat from a new type of account which is actually meant to be almost perpetually in debit. This account, to be (21) in a few months' time, is in- tended to (22) a range of personal banking services, such as current sc. counts, mortgages, per- sop, al loans and credit cards. Customers, who must (23) that they are at least five years from retirement, will be required to (24) a mortgage of at least £ 50,000 on their homes and have their salaries paid directly into the account. They will then have an agreed credit (25) of up to three times their annual salary, to use as they wish-as well as the usual (26) such as debit, credit and cash cards and a cheque book. Accounts in debit will be charged interest at a rate of 8.2 per cent. This (27) favourably with the standard mortgage rate of 8.45 per cent, personal loan rates of around 13 per cent and credit card (28) of about 22 per cent. When the debt is cleared- as it must be by the time the customer retires-and the account goes into credit, it will attract interest at about 5 Her cent. Some experts say that it will revolutionise personal banking in the UK. But the (29) has been dismissed as a gimmick by rival banks and criticized by consumer groups, which are voicing fears that many customers on average incomes could be (30) into serious debt.
(20)
A.embarked
B.launched
C.released
D.issued
Electronic record means:
(1)______ created, generated, sent, communicated, received, or stored by electronic means
(2)that is capable of being ______ as to the apparent identity of a sender and the apparent source of the data contained in it, and as to whether it has remained complete and unaltered, and
(3)is capable of being ______ for compliance with the terms and conditions of the eUCP Credit.
If an electronic record contains a hyperlink (1) to an external system or (2) to a presentation indicates that the electronic record may be examined by reference to an external system, the electronic record at the hyperlink or at the referenced system shall be deemed to be the electronic record to be examined. This implies that a bank must examine the external source indicated in a document in order to examine the presentation properly.
The use of external source in electronic presentments constitutes a significant depart from the paper system of presentation. A reference in a paper document under UCP600 to an external source would be() acceptable/() unacceptable.
Under the eUCP where an external source is indicated and its citation is()permissible/() not permissible.