International Business Study Set 5
Quiz 16: Exporting,importing,and Countertrade
A Draft Is the Instrument Normally Used in International Commerce
A draft is the instrument normally used in international commerce to effect payment.
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A draft is simply an order written by an exporter instructing an importer to pay a specified amount of money at a specified time.
A sight draft allows for a delay in payment.
A time draft is payable on presentation to the drawee
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