The Bank Promises to Pay on Behalf of the Importer

question 98

True/False

The bank promises to pay on behalf of the importer when a bank is used as a third party in international transactions.

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Definitions:

Mexican-American

An individual or cultural identity associated with people of Mexican heritage living in the United States, blending elements of both cultures.

Equal Opportunity

The principle of treating all people the same, without discrimination, especially in employment and education.

Passive Learning Style

A learning approach where the learner receives and processes information without actively engaging in physical or interactive activities.

Physical Demonstrations

The act of showing or expressing something through bodily movements or actions, such as gestures or facial expressions.