Payment Methods In International Trading Avoid losing your payment or shipment (Import, export - What is international trading? Book 1)
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Payment Methods In International Trading Avoid losing your payment or shipment (Import, export - What is international trading? Book 1)
If you had ever exported you know the fear of sending the goods without knowing if payment will be received. If you had been importing you had the opposite fear – will the goods I had paid for will be what I will get?
When you deal with international business you are require to have the knowledge of the payment methods available. Just writing in the terms of payment "open account" or "Letter of credit" does not protect you. Knowing what are the risks in each methods and when it protects you as a buyer and when it protect the seller is important in order to choose the best method.
This book is aimed experience and starting exporters and importers. It will advice you what is an open account, what to do if the seller asks that the payment will be done via "Western Union" (hint – think if you would ever ask payment not to be done to your bank account), what is stand by letter of credit and what are the cons and pros of using a bank guarantee.
