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Based on the mutual confidence between the customer (the recipient) and the source, the bank carries out delivery of the required documents to the customer. A “for inspection” document is provided in cases where payment takes place immediately. Otherwise, a “for approval” document is delivered in cases where the customer produces a required bill or a promissory bond after a set period.
In either case, the bank is under no obligation to pay the document value to the source in case of its refusal by the customer, or in case of refusal to pay the bill or the promissory support in the agreed upon time.
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