The Risk of Default on the Part of the Importer-Risk

question 62

Multiple Choice

The risk of default on the part of the importer-risk of noncompletion-is present as soon as:

• A) a price quote is given.
• B) goods are received.
• C) the export contract is signed.
• D) the financing period begins.

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Definitions:

Check Forgery

The criminal act of making or altering a check with intent to defraud, such as by changing the amount or forging the drawer's signature.

Wrongfully Held Funds

Money that is unjustly retained or withheld from its rightful owner or beneficiary.

Depositors

Individuals or entities that place money into a bank account for safekeeping and potential interest accrual.

Negotiation

A discussion aimed at reaching an agreement.