Final answer:
Whether a trading partner agreement allows the elimination of the traditional three-way match depends on the specific terms and level of trust between partners, despite simplified trade processes from agreements like NAFTA.
Step-by-step explanation:
When a trading partner agreement is in place, the traditional three-way match — the process of matching purchase orders, goods receipt notes, and invoices — can sometimes be streamlined or even eliminated. However, this depends on the specifics of the agreement and the level of trust and the automated systems put in place between the trading partners.
For example, the North American Free Trade Agreement (NAFTA) and other agreements like the Caribbean Basin Initiative or the free trade agreement with Israel aim to reduce tariffs, import quotas, and non-tariff barriers, which can simplify the trade process. Nonetheless, the presence of such an agreement doesn't automatically negate the necessity for a three-way match since companies still need to ensure that the goods or services received are in line with what was ordered and invoiced.