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Bills of lading are one of three crucial documents used in international trade to ensure that exporters receive payment and importers receive the merchandise. [3] The other two documents are a policy of insurance and an invoice. [a] Whereas a bill of lading is negotiable, both a policy and an invoice are assignable.
A receipt (also known as a packing list, packing slip, packaging slip, (delivery) docket, shipping list, delivery list, bill of the parcel, manifest, or customer receipt) is a document acknowledging that something has been received, [1] such as money or property in payment following a sale or other transfer of goods or provision of a service.
An RfQ typically involves more than the price per item. Information like payment terms, quality level per item or contract length may be requested during the bidding process. To receive correct quotes, RfQs often include the specifications of the items/services to make sure all the suppliers are bidding on the same item/service.
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"A delivery order was not regarded as a document of title at common law with the result that the transfer of the delivery order did not effect transfer of constructive possession of the goods. Attornment on the part of the bailee was required (i.e., an acknowledgement that the bailee held the goods on behalf of the transferee).
Jawabi Hundi - if money is transferred from one place to another through the hundi and the person receiving the payment on is to give an acknowledgement (jawab) for same, then such a hundi is known as a Jawabi Hundi. Khaka Hundi - a hundi which has already been paid is known as a Khaka Hundi.
An acceptance credit is a type of letter of credit that is paid by a time draft authorizing payment on or after a specific date, if the terms of the letter of credit have been complied with. The bank "accepts" bills of exchange drawn on the bank by the debtor , discounts them and agrees to pay for them when they mature .
When payment is eventually received, the accrued revenue account is adjusted or removed, and the cash account is increased. Deferred revenue is a liability that represents the future obligation of a deliverer to deliver goods and services, even though the deliverer has already been paid in advance.
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