MGT 302 Study Guide - Final Guide: Keiretsu, Hard Currency, Common Carrier
Document Summary
Key part of the keiretsu, the large japanese industrial groups. Issued by a bank, indicating that the bank will make payments under specific circumstances. An order written by an exporter telling an importer what and when to pay. An order written by an exporter instructing an importer, or an importer"s agent, to pay a specified amount of money at a specified time. A draft payable on presentation to the drawee. A promise to pay by the accepting party at some future date. A document issued to an exporter by a common carrier transporting merchandise. Server as a receipt, a contract, and a document of title. When the importer is in a strong bargaining position, an exporter may have to forgo a letter of credit and expose itself to the risk that the foreign importer will default on a payment. Insurance firm will cover major portion of the losses if customer defaults.
