A contract between the exporter and shipper that specifies merchandise destination and shipping costs is called a ________.
A) draft
B) bill of lading
C) letter of credit
D) bill of exchange

Question

Quizplus · Accepted Answer

A bill of lading is a legal document between the exporter and shipper that outlines the details of the shipment, including destination, shipping costs, and the carrier responsible for transporting the goods. It serves as a receipt of shipment and proof of ownership, and it is typically required for the release of the goods at the destination port. A draft is a payment instrument that orders the importer to pay a certain amount to the exporter. A letter of credit is a commitment by a bank to pay a certain amount to the exporter on behalf of the importer. A bill of exchange is an order in writing from one party to another to pay a certain sum of money.

A Contract Between the Exporter and Shipper That Specifies Merchandise