A Typical Foreign Trade Transaction Requires Three Basic Documents

question 17

Multiple Choice

A typical foreign trade transaction requires three basic documents:

• A)letter of credit, time draft, and bill of lading.
• B)letter of credit, banker's acceptance, and bill of lading.
• C)letter of credit, time draft, and a banker's acceptance.
• D)none of the above

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Definitions:

Franchising

A method of doing business wherein a franchisor licenses trademarks and proven methods of doing business to a franchisee in exchange for a recurring payment, and often a percentage of the franchisee's revenue.

Franchisors

Individuals or companies that grant a license to others allowing them to operate a business under the franchisor's brand and business model.

Experience

The knowledge or skill acquired by a period of practical involvement in or exposure to events or activities.

Franchised Businesses

Companies that operate under the model where individuals (franchisees) are granted the rights by a franchisor to operate a business under the franchisor's brand and system in exchange for a fee.