A foreign bank issues an undertaking to the exporter ( through a bank in the exporter’s country) to pay for the goods as long as the exporter complies with the terms and conditions of the contract. This is a much safer form of payment for the exporter. To be even safer, the exporter can arrange for the bank in his/her country to act as “ confirming bank”, which means that the bank in the exporter’s country is responsible for the transaction:

Câu hỏi liên quan

• Units of equity of companies which may be bought and sold on the stock exchange and may rise and fall in value:

• Allowing a customer time before he has to pay for goods or services:

• My husband would like to remodel the kitchen so I would like to………$20,000 for a second mortgage on our house:

ZUNIA12

• Loan which is guaranteed by the borrower giving assets as security:

• Which of the following best describes the bank system?

• Computerized banking is………:

• A check for salary given by an employer to someone who works for him /her:

• To subtract money from an account:

• Each business hopes to make a………….to satisfy the shareholders:

• When the government doesn’t control the exchange rate in any way, the currency is ……………….. :

• An economy that lacks a commonly accepted currency, so all exchanges must be made with goods and services because money does not exist in these economies:

• Name or value of coin or banknote e.g VND 1000, VND 10000, VND 50000:

• A depositor is ………….when he writes a check for more money than he has in his account:

• In order to withdraw money the bank requires your………….. :

• You are never too young to start----------some money in a savings account:

• A debt instrument that bears interest and promises repayment:

•  Not yet paid or completed:

• To make two accounts match with each other:

• The great advantage of using …………. for payments is that you don’t have to carry large amounts of cash around with you:

• Failure to carry out the terms of a contract, especially failure to pay back a debt: