Electronic Communications

Unit 4.9-Electronic Communications

Having agreed to use a letter of credit for payment in an international transaction, an international manager needs to understand how to use electronic communications for transmission of the letter of credit itself as well as the associated documentation. In addition it is essential to understand the guidelines that have been established for electronic communications and any affect this may have on smooth flow of documentation and payment.

Unit Objective

This material will introduce you to the methods by which buyers and sellers can communicate and exchange documents required by appropriate methods of payment as they relate to receipt of timely payment of goods and/or services in an international business transaction.

By the end of this unit you will be able to :

• identify the electronic methods of communicating and exchange of documents required for the international transaction.
• identify the risks and characteristics of each method of communication.

Unit Outline

• Introduction
• Communication and Technology
• Communicating Methods of Payment and Fund Remittance
• Communication Guidelines and Standards
• Summary
• Resources
• Activities
• Assessment

Correlation: Materials from this unit correlate with NASBITE CGCP's Knowledge Statement 04/04/09: Knowledge of communication of letters of credit, collections, and associated documents electronically via the Internet (e.g., eUCP, SWIFT)

Next