In international trade, factoring is widely used in short-term transactions as a continuous arrangement. Arrange the steps of export factoring operations in sequence -

A. The export factor transfers the invoice to the import factor, who, in return, assumes credit risk and undertakes administration of receivable.

B. The export factor pays cash in advance to the exporter against receivables until the payment is received from the importer.

C. The importer and exporter enter into a sales contract and agree on the terms of sale.

D. The import factor presents invoice to importer, take payment and pays to the export factor. E. The exporter ships the goods to the importer and submits the invoice to the export factor.

Choose the correct answer from the options given below: