An important form of international commercial payment is ___________ (dollar drafts)where the seller assumes all risk until the actual dollars are received.

Question

Quizplus · Accepted Answer

Bills of exchange, also known as drafts, are a common form of payment in international trade where the seller assumes all risk until payment is received. The buyer writes a draft, ordering their bank to pay a certain amount to the seller's bank at a specified date. This provides security for the seller, as they can retain control of the goods until they receive payment.

An Important Form of International Commercial Payment Is ___________ (Dollar