When an Exporter Agrees to Sell to a Foreign Buyer

question 45

Multiple Choice

When an exporter agrees to sell to a foreign buyer using the letter-of-credit format for payment,the next step after the exporter and customer agree on terms of sale is to have the buyer:

• A)send payment documents to the seller.
• B)request its foreign bank to open a letter of credit.
• C)check the financial background of the seller.
• D)place an escrow document with a local lawyer.
• E)provide a statement of earnings.

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Definitions:

Analgesic

A drug or substance that is used to reduce pain without causing loss of consciousness.

High-Risk Behaviors

Actions that significantly increase the likelihood of causing harm or adverse consequences to oneself or others, often associated with health and safety.

Anorexia Nervosa

A psychological and potentially life-threatening eating disorder characterized by an extremely low body weight, fear of gaining weight, and a distorted perception of body weight and shape.

Conforming

The act of matching attitudes, beliefs, and behaviors to what is considered normal or acceptable to a larger group.