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(a) An open account term is considered to be the least secure type of payment method for an exporter. Justify whether you agree with the

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(a) "An open account term is considered to be the least secure type of payment method for an exporter". Justify whether you agree with the statement. (6 marks) (b) Compare the difference between advance payment and open account and suggest a situation where an exporter should adopt the advance payment method in international trade settlement. (6 marks) (c) Elaborate the documentary collection (D/C) payment method and outline the main difference between documentary collection and documentary credit. (8 marks)

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