We appreciate your visit to Terra Enterprises Corp TEC recently made a sale to a foreign trading partner but the customer does not need to make a payment for 30. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
TEC and other firms should use a banker's acceptance.
Explanation:
One type of short-term debt security that Terra Enterprises Corp. (TEC) and other firms in a similar situation can use to ensure payment is made in full before shipment is a banker's acceptance. A banker's acceptance is a time draft that is accepted by a bank, giving it the bank's guarantee of payment. By using a banker's acceptance, TEC can rely on the bank's creditworthiness to ensure payment from the trading partner.
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