A Bill of Lading Can Function as Collateral Against Which

question 89

True/False

A bill of lading can function as collateral against which funds are advanced to the exporter by its local bank before final payment by the importer.

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Definitions:

Oil Pollution Act

A law enacted in the United States aimed at preventing and responding to catastrophic oil spills, including the establishment of liabilities and penalties.

Discharges

Refers to the release, disposal, or emission of substances, particularly pollutants into the environment; also can refer to the fulfillment or cancellation of a financial obligation.

Puget Sound

A complex estuarine system of interconnected marine waterways and basins in the northwestern United States, known for its ecological diversity.

Superfund

A federal government program established to fund the cleanup of toxic waste sites.