In terms of using a third party in international trade, title to the products is given to a bank by the exporter in the form of a document known as a
A) merchandise bill.
B) bill of lading.
C) bill of exchange.
D) draft.
E) letter of credit.

Question

Quizplus · Accepted Answer

A bill of lading is a document issued by a carrier to acknowledge receipt of cargo for shipment. It serves as a title to the goods, allowing the bank to hold it until payment is made.

In Terms of Using a Third Party in International Trade