The Trade Act of 2002 Requires Exporters to Electronically Submit

question 13

True/False

The Trade Act of 2002 requires exporters to electronically submit shipping documents to U.S. Customs 24 hours before delivery to a port or 24 hours before vessel departure.

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Definitions:

Deed of Trust

A legal document used in some states that involves a trustor, a trustee, and a lender (beneficiary), outlining the terms of a real estate transaction and placing the property as security for a loan.

Guarantor

A person or entity that agrees to be responsible for another's debt or obligations if the original party fails to meet their commitments.

Surety

A person or entity that takes responsibility for another's performance of an obligation, such as repaying a loan, or for the accuracy of a statement.

Interest

The charge for borrowing money, typically a percentage of the amount lent.