Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Payment Methods in International Trade
Payment Methods in International Trade
-
Letters of Credit (L/C): Banks guarantee payment from buyer to seller, ensuring transaction security. Types include irrevocable, confirmed, and standby L/Cs.
-
Documentary Collections: Banks handle documents but not payments, transferring funds upon presentation. Methods include Documents Against Payment (D/P) and Documents Against Acceptance (D/A).
-
Open Account: Sellers ship goods before receiving payment. Terms may include net 30, net 60, or net 90 days.
-
Cash in Advance: Buyers pay sellers before shipment. Payment methods encompass wire transfers, credit cards, and payment gateways.
-
Consignment: Sellers retain ownership until buyers sell goods. Payment occurs after the sale.