Euler Hermes: New Business

Question 1

ATB

Answer 1

Aged Trial Balance. Alphabetically lists accounts receivable with outstanding balances. It displays one balance for every account by age and is typically produced only once on demand to check receivable details against other reports.

Question 2

Consignment stock

Answer 2

Consignment stock is stock legally owned by one party, but held by another, meaning that the risk and rewards regarding to the said stock remains with the first party while the third party just keep them

Question 3

insurance of pre delivery risk

Answer 3

enables the exporter reimbursement of production expenses, due to his inability to supply the goods agreed by contract because of outset of non-commercial risks (including interruption of transport lines) and/or certain commercial risks (cancellation of contract, bankruptcy of the buyer)

Question 4

retention money

Answer 4

Payment for a service or product that is withheld pending the completion of some specified condition