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When an Exporter Ships Merchandise and Later Bills the Importer

question 82

Multiple Choice

When an exporter ships merchandise and later bills the importer for its value it is using a(n) ________ type of export/import financing.


Definitions:

Estopped

A principle that prevents a person from denying or asserting anything to the contrary of that which has been, in the context of the facts of the case, established as the truth.

Agency Relationship

A legal arrangement in which one party (the agent) acts on behalf of another party (the principal).

Agent's Acts

Refers to the actions performed by an individual (the agent) on behalf of another person or entity (the principal) with the principal's consent.

Voluntary Consent

Consent freely given without coercion, where the individual fully understands what they are agreeing to.

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