All of the following are possible payment terms for goods exported to another nation except:
A)advance payment
B)third party draft.
C)confirmed irrevocable letter of credit.
D)unconfirmed irrevocable letter of credit
E)open account

Question

Quizplus · Accepted Answer

"Third party draft" is not a recognized term in international trade finance. Common payment terms include advance payment, confirmed irrevocable letter of credit, unconfirmed irrevocable letter of credit, and open account, but "third party draft" does not fit within the standard categories of payment terms.

All of the Following Are Possible Payment Terms for Goods