A _____ is issued to an exporter by a common carrier transporting the merchandise and it serves as a receipt,a contract,and a document of title.
A) bill of lading
B) collateral
C) draft
D) letter of credit
E) bill of exchange

Question

Quizplus · Accepted Answer

A bill of lading is issued by a common carrier to the exporter and serves as a receipt of the goods being transported, a contract of carriage between the exporter and carrier, and a document of title that can be transferred to others as proof of ownership. Collateral refers to assets pledged as security for a loan, a draft is a formal order for payment, a letter of credit is issued by a bank to guarantee payment to an exporter, and a bill of exchange is a written order for payment.

A _____ Is Issued to an Exporter by a Common