Chapter 24 - Recording International and Internet Sales
Terms in this set (10)
Goods or services shipped out of a seller's home country to a foreign country.
Goods or services brought from a foreign country and brought into a buyer's home country.
A document that details all the terms agreed to by seller and buyer for a sales transaction.
contract of sale
A letter issued by a bank guaranteeing that a named individual or business will be paid a specified amount provided stated conditions are met.
letter of credit
A receipt signed by the authorized agent of a transportation company for merchandise received that also serves as a contract for the delivery of the merchandise.
bill of lading
A statement prepared by the seller of merchandise addressed to the buyer, showing a detailed listing and description of a merchandise sold, including prices and terms.
A written, signed, and dated order from one party ordering another part usually a bank, to pay money to a third party.
A draft payable on sight when the holder presents it for payment.
A draft that is payable at a fixed or determinable future time after it is accepted.
A form signed by a buyer at the time of a sale of merchandise in which the buyer promises to pay the seller a specified sum of money, usually at stated time in the future.