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A foreign order which instructs an agent to buy certain goods from a particular supplier is

Commerce
WAEC 2021

A foreign order which instructs an agent to buy certain goods from a particular supplier is

  • A. closed indent
  • B. open indent
  • C. letter of credit
  • D. letter of enquiry
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Correct Answer: Option A
Explanation

A closed indent is an order, usually from a buyer instructing an agent to buy goods from a specific seller/manufacturer.

It restricts the agent to only buy goods from a named manufacturer.

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