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A Draft Is Issued by the Exporter's Bank, Ordering the Importer's

question 24

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A draft is issued by the exporter's bank, ordering the importer's bank to pay for the merchandise and thus guaranteeing payment once it is accepted by the importer's bank.


Definitions:

Contingency Planning

The development of strategies and actions to prepare for and respond to unexpected events or emergencies that could negatively impact operations.

Long-term Version

The ability to focus on and plan for future achievements and outcomes over an extended period.

Scenario Planning

A strategic planning method that organizations use to envision and prepare for various future scenarios or outcomes.

Long-term Version

A strategic focus or approach that prioritizes long-term goals and outcomes over immediate gains or results.

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