Management 411 Test Banks Questions and Answers

Document Content and Description Below

Forfaiting - -A means of financing an international sale in which an exporter collects a series of drafts from the importer and then sells them. -Purchasing Card - -A credit card used by companies ... to make small purchases, and that can be used in international transactions -Bill of Exchange or Draft - -A promissory note in which an importer formally recognizes its debt to the exporter -Open Account - -A method of payment in which the exporter sends an invoice to the importer along with the goods and expects the importer to pay within a reasonable amount of time -Documentary Collection - -A method of payment in which an exporter enlists the help of a bank in the importer's country to collect payment from the importer -Factoring - -A means of financing international receivable accounts, by which a firm asks a factoring company to advance funds on the receivable -TradeCard - -A proprietary process that combines payment and documents and facilitates international transactions -Cash in Advance - -A method of payment in which an importer has to pay the exporter before the exporter ships the goods [Show More]

Last updated: 1 year ago

Preview 1 out of 10 pages