When a draft guarantees payment for goods in international trade, the draft is called a:

Name: When a draft guarantees payment for goods in international trade, the draft is called a:
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A draft that guarantees payment for goods in international trade is not specifically called any of the terms listed (A, B, C, D). The correct term for such a financial instrument is typically a "bill of exchange" or "trade bill," not "payment of exchange" or the other options provided.

When a Draft Guarantees Payment for Goods in International Trade