An agent who guarantees payments for goods sold is

Assessment: WAEC SSCE - Commerce - 1996 (Objective) Subject: Commerce

Question 1 Report

An agent who guarantees payments for goods sold is
Answer Details
An agent who guarantees payments for goods sold is called a "del credere agent". In commercial transactions, a del credere agent acts as a surety for the buyer's payment obligations to the seller. The del credere agent guarantees the payment of the purchase price to the seller, usually in exchange for an additional commission or fee. The del credere agent bears the risk of the buyer's non-payment, thereby ensuring that the seller receives the full amount due for the goods sold.
Read lesson note on Purchase And Sale Of Goods (JAMB)
Read lesson note on Occupation (JAMB)
View Answer

Related Questions

1

The primary purpose of credit cards is to
2

Which of the following is not the duty of an entrepreneur?
3

When a company buys up firms supplying it with raw materials, this is an example of
4

The difference between the total amount of money received by a country and the total amount paid to other countries within a given period is the
5

Which of the following is not a credit instrument used in business transactions?
6

Industrial, commercial and direct services are branches of
7

Which of the following is used to transmit typed messages over long distances?
8

Containers are suitable for transporting goods by

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning