Question

Differentiate between open and closed indent

Answer 1

A closed indent restricts the agent to a named manufacturer from whom the goods must be bought while an

open indent gives the agent a free hand in obtaining the goods from any source.

Answer 2

The answer is stated below:

Explanation:

• Indent is the word which is defined as the document, that allows the importer for ordering the goods from the exporter by his agent. And the indent could be closed or open indent.
• Difference among the closed and open indent as:

Closed indent

The close indent is that document which restrict or limit the agent to named the manufacturer from whom the goods need to be bought or purchased.

Open indent

The open indent is that document which provide the agent a free hand in gaining the goods from any source.