The Risk of Default on the Part of the Importer

question 34

Multiple Choice

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

• A) a price quote is requested.
• B) goods are shipped.
• C) the export contract is signed.
• D) goods are received.

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Definitions:

Tortious Conduct

Refers to behavior or actions that are unlawful under tort law, leading to liability for damages to a person or property.

Negligent Professional Conduct

The failure of a professional to act with the competence and care that is expected of those within their profession, resulting in harm or damage.

Liability Insurance Policies

Insurance policies that provide coverage to the insured against claims resulting from injuries and damage to other people or property.

Tort Liability

Legal responsibility for damages caused by a breach in duty of care in civil law, excluding breaches of contract.