WAEC Commerce 1992 Question 60

Question 60

Foreign Trade Documents

An order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called

  1. A.indent
  2. B.open indent
  3. C.closed indent
  4. D.export order
  5. E.import order
Show the answer and explanation

Answer: B (open indent)

Explanation

An open indent leaves the choice of supplier to the agent; a closed indent names the maker.