The Standard Forum Selection Clause in International Business Contracts Specifies

question 144

True/False

The standard forum selection clause in international business contracts specifies that in the event of a dispute the matter will be settled at the United Nations Commission on Trade.

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Definitions:

Discount Period

The time frame within which a payment can be made at a reduced rate before it reverts to the full price.

Accounts Receivable

The money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Credit Terms

Conditions under which credit is extended by a lender to a buyer, including repayment time frame and interest rate.

Invoice Date

The date on which an invoice is issued, marking the point in time when the billing process for goods delivered or services rendered begins.