Question 245. - Where Bank A cashes a draft under a credit issued on Bank B, must Bank A accept whatever rate Bank B may claim to be the current rate at the point at which the credit is drawn?

Answer. - The holder is clearly not bound to take an inadequate rate from the drawee, but unless the latter will make himself liable by some undertaking in the nature of an acceptance, the holder would have to look to the drawer or issuer of the credit for reimbursement.