International methods of payment

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International methods of payment

  1. 1. INTERNATIONALPAYMENT METHODS
  2. 2. INTERNATIONAL PAYMENT METHODS• The decision of which method of payment must be used depends on: • The risk assumed by the parties. • The cost of the transaction.
  3. 3. MOST USED METHODS• Open account • Direct transfer • Cheque• Bank instruments (subject to documents) • Letter of credit • Collection • Bill of exchange
  4. 4. CONDITIONS OF THELETTER OF CREDIT• Confirmed• Notified• Pay the bearer at sight
  5. 5. SECURITY LETTER OF CREDIT COLLECTION BILL OF EXCHANGEPAYMENT ENGAGEMENT CHEQUE TRANSFER 0 25 50 75 100 Security of payment Risk of unpayment

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