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In Settlement Phase
Options:
A .  the goods or services are paid for. Relevant transactions include invoicing, payment authorisation, payment, and remittance advice transmission.
B .  the buyer and seller are concerned with the gathering of market intelligence.
C .  a formal relationship is established between buyer and seller, including terms and conditions to be applied to transactions under the contract.
D .  this involves the placement and processing of purchase orders (or, in contractual terms, an offer), and acknowledgement by the seller of its preparedness to deliver (in contractual terms, an acceptance).
Answer: Option A
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