A time draft extends the period of time following delivery by which the importer must pay for goods.

Name: A time draft extends the period of time following delivery by which the importer must pay for goods.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A time draft, also known as a usance draft or term draft, allows an importer to defer payment for goods beyond the standard payment terms of a sight draft. The document specifies a future date by which the importer must pay the seller or their bank.

A Time Draft Extends the Period of Time Following Delivery