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Explain how a buyer can use the advance payment and performance guarantee to their benefit? A Japanese manufacture (the seller) of optical zoom attachments has
Explain how a buyer can use the advance payment and performance guarantee to their benefit?
A Japanese manufacture (the seller) of optical zoom attachments has signed a contract with a Mexican company (the buyer) to supply 10,000 attachments for a contract price of USD 1.2 million. Following multiple discussions, the Japanese company has sought a 10% advance payment to between these two companies, the Mexican company has asked for a 5% performance guarantee to ensure the appropriate dery agreement. Explain how a buyer can use the advance payment and performance guarantee to their benefitStep by Step Solution
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