A bill of exchange is a written order obliging one party to pay a fixed amount of money to the other party on demand or at some point in the future.
There are often three parties involved in a bill of exchange: the drawee is the party who pays the amount, the payee receives the amount, and the drawer is the one who obliges the drawee to pay the payee.
A bill of exchange is used in international trade to help importers and exporters complete transactions.
Although a bill of exchange is not a contract in itself, the parties involved can use it to specify the terms of the transaction, such as the terms of the loan and the rate of interest charged.
Delivery Duty Paid (DDP) is a delivery contract under which the seller assumes full responsibility for transporting the goods until they reach the agreed destination.
Distribution Management manages the supply chain for the firm, from vendors and suppliers to the manufacturer and point of sale, including packaging, inventory, warehousing and logistics.
In a supply chain, a distribution network is an interconnected group of storage facilities and transportation systems that receive stocks of goods and then deliver them to customers.
Free carrier is a trade term that requires the seller of goods to deliver those goods to a specified airport, shipping terminal, warehouse, or other carrier location specified by the buyer.
Supply chain management (SCM) is a centralized management of the flow of goods and services and includes all processes that turn raw materials into final products.