Jamal Steel, a Rapidly Growing Small Steel Company with Annual

Multiple Choice

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.