Which of the following statements holds true for the time draft?
A)The time draft is paid on the receipt of the goods by the importer.
B)The time draft is payable typically 30, 60, 90, or 120 days in the future as specified by the draft.
C)The time draft is paid on receipt of the draft (when it is "seen").
D)The time draft is paid in advance immediately after the order is made to the exporter and before the export of the ordered goods.
E)The time draft is paid after a period of exactly one year after the delivery has been made to the importer.

Question

Quizplus · Accepted Answer

Time drafts are payable at a specified future date, not upon receipt of goods or the draft itself, and not in advance of shipment or exactly one year after delivery.

Which of the Following Statements Holds True for the Time