Johnson Goods, a U.S. company is exporting to Watanabe Trading, a Japanese importer. The two parties agree on a draft, but Johnson Goods wants it to be a draft that is payable on presentation to Watanabe Trading. Johnson Goods is asking for a(n)
Johnson Goods is asking for a SLIGHT DRAFT which is a bill of exchange whereby the exporter holds the rights of the goods being exported until the importer receives it after which the importer then signs for the good and only then pays for it.
