Jamal Steel, a rapidly growing small steel company with annual revenues of $8 million is looking to buy a large industrial furnace from Shinto Manufacturing, a Japan-based company. Rather than have a letter of credit binding the two parties, both agree on a draft. In international commerce, Shinto Manufacturing, the party initiating the draft is known as the

Jamal Steel, a rapidly growing small steel company with annual revenues of $8 million is looking to buy a large industrial furnace from Shinto Manufacturing, a Japan-based company. Rather than have a letter of credit binding the two parties, both agree on a draft. In international commerce, Shinto Manufacturing, the party initiating the draft is known as the

Jamal Steel, a rapidly growing small steel company with annual revenues of $8 million is looking to buy a large industrial furnace from Shinto Manufacturing, a Japan-based company. Rather than have a letter of credit binding the two parties, both agree on a draft. In international commerce, Shinto Manufacturing, the party initiating the draft is known as the



A. maker.


B. drawee.


C. buyer.


D. agent.


E. drafter.



Answer: A. maker


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