A ________ extends credit to the importer by requiring payment at some specified time after the importer receives the goods.
A) sight draft
B) time draft
C) bill of lading
D) bill of exchange

Question

Quizplus · Accepted Answer

A time draft is a type of payment term where the importer is allowed to receive the goods before payment is due, but must make payment at some specified time after receiving the goods. This is also known as a "term draft." A sight draft, on the other hand, requires immediate payment upon presentation, and a bill of lading and bill of exchange are documents related to the shipment and transfer of goods, but do not necessarily indicate payment terms.

A ________ Extends Credit to the Importer by Requiring Payment