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The additional commission paid to agents for guaranteeing payment is?

Commerce
WAEC 2020

The additional commission paid to agents for guaranteeing payment is?

  • A. brokerage
  • B. del credere
  • C. drawback
  • D. demurrage
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Correct Answer: Option B
Explanation

In a del credere agent-principal relationship, the agent guarantees performance or payment by a third party to a principal in connection with transactions entered into by the agent for the principal usually in return for higher commissions.

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
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Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now