| A | B |
|---|
| exports | goods or services shipped out of a seller’s home country to another country. |
| imports | goods or services shipped into the buyer’s home country from another country. |
| contract of sale | a document that details all the terms agreed to by seller and buyer for a sales transaction. |
| letter of credit | a letter issued by a bank guaranteeing that a named individual or business will be paid a specified amount provided stated conditions are met. |
| bill of lading | 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. |
| commercial invoice | a statement prepared by the seller of merchandise addressed to the buyer showing a detailed listing and description of merchandise sold, including price and terms |
| draft | a written, signed, and dated order from one party ordering another party, usually a bank to pay money to a third party. |
| sight draft | a draft payable on sight when the holder presents it for payment. |
| time draft | a draft that is payable at a fixed or determinable future time after it is accepted. |
| trade acceptance | 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 a stated time in the future. |
