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WAEC Commerce 1994 Question 39

Question 39

Foreign Trade

Which of the following is not performed by the shipping and forwarding agents?

  1. A.Reservation of shipping space
  2. B.Collection of payment from the importer
  3. C.Collection of goods from the factory
  4. D.Preparation of the bill of lading
  5. E.Arrangement for marine insurance
Show the answer and explanation

Answer: B (Collection of payment from the importer)

Explanation

Forwarding agents handle shipping arrangements and documents; collecting payment is done through banks.