Because of the lack of trust in international transactions,payment or a formal promise to pay is required before the buyer can obtain the merchandise.
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Q30: Countertrade contracts may involve the exchange of
Q31: The bill of lading acts as a
Q32: The letter of credit is issued by
Q33: An offset agreement occurs when a firm
Q34: Countertrading is a common solution for nonconvertibility
Q36: International transactions are usually settled using drafts.
Q37: American exporters can minimize their risk by
Q38: Switch trading is the direct exchange of
Q39: Barter is the simplest form of countertrade.
Q40: The letter of credit system effectively transfers
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