A ____________________ is an instrument that legally binds the importer to pay within a certain period of time (and allows the exporter to grant commercial credit to the importer whenever it is deemed necessary).
Correct Answer:
Verified
Q40: The instruction letter is part of the
Q41: The most commonly used terms of payment
Q42: Because of the risks associated with open-account
Q43: In a cash-in-advance transaction,all risk is transferred
Q44: In some cases,the exporter may want to
Q46: Among the following terms of payment,which is
Q47: While a cash-in-advance transaction shows a lack
Q48: The most commonly used term of payment
Q49: The less developed an area of the
Q50: The issuing bank's promise to pay is
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