A Sight Draft Extends the Period of Time Following Delivery

question 90

True/False

A sight draft extends the period of time following delivery by which the importer must pay for goods.

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Definitions:

Creditors

Individuals or entities that are owed money by debtors, usually arising from contractual agreements, and have the legal right to pursue payment.

Corporate Name

The legal name under which a corporation is registered to conduct business.

Articles Of Incorporation

Official papers submitted to a government agency to formally register the establishment of a corporation.

Independent Contractor

A person who is hired to perform a specific undertaking but who is free to choose how and when to perform the work. An independent contractor may or may not be an agent.