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

question 24

True/False

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.

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Definitions:

Debt Collections

The process of pursuing payments of debts owed by individuals or businesses, typically conducted by collection agencies or creditors.

John Marshall

An influential United States Supreme Court Chief Justice from 1801 to 1835, known for shaping American constitutional law and judicial authority.

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The legal entitlement of citizens to participate in the democratic process through elections to choose representatives and make decisions on governance.