The Open Account Method of Export/import Financing Is Used When

question 50

True/False

The open account method of export/import financing is used when the two parties are unfamiliar with each other.

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Definitions:

Compliance And Ethics

This term refers to the corporate practices that ensure an organization and its employees conform to legal standards and ethical norms in their business operations and decision-making processes.

RICO

The Racketeer Influenced and Corrupt Organizations Act, a U.S. federal law designed to combat organized crime by allowing for extended criminal penalties and civil cause of action for acts performed as part of an ongoing criminal organization.

Predicate Acts

Actions or crimes that constitute part of a larger pattern of illegal activity, often related to racketeering or fraud.

Five-Year Period

A specified duration of time, often used in contexts such as contracts, warranties, and strategic planning, comprising five consecutive years.