A simple agreement wherein the exporter sends an invoice with the goods and the exporter pays upon the receipt is called a(n)_____.

Question

Quizplus · Accepted Answer

An open account is a type of trade credit where the exporter sends an invoice with the goods and the importer pays upon the receipt. This is a simple agreement that does not involve any third-party payment guarantee or financing. Therefore, it is the best choice for the given description. Commercial letter of credit and banker's acceptance are more complex payment methods that involve banks' intervention and documentation. Syndicate and bond rating are not relevant to this question as they refer to financial market activities.

A Simple Agreement Wherein the Exporter Sends an Invoice with the Goods