A German bank has added its confirmation to a documentary credit issued by a Turkish bank. Which of

A German bank has added its confirmation to a documentary credit issued by a Turkish bank. Which of the following risks is NOT borne by the confirming bank？

(1)( ) Fraud by the beneficiary.

(2)( ) Insolvency of the issuing bank.

(3)( ) Refusal of the issuing bank to pay against complying documents.

(4)( ) Government restrictions on funds transfer from the issuing bank.

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