A PRICE AND PAYMENT CLAUSE TAKEN FROM AN EXPORT CONTRACT IS AS FOL...

32. A price and payment clause taken from an export contract is as follows: “The price

payable for the contract goods as specified in annex A is $500,000”. What is missing?

A. The clause does not specify how payment will be made

B. The clause does not specify when payment is due

C. The clause lacks all the necessary five steps in negotiating payment mode, time,

place, delay and results of delay

D. The clause does not say where the money must be before the buyer is deemed to have

paid, define delay in payment and mention the consequences of delay