Methods of Payment/Summary
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Unit 4.1-Methods of Payment |
Introduction | Cash in Advance | Documentary Collections | Letters of Credit | Open Account | Combining Methods | Summary | Resources | Activities | Assessment |
Summary
[edit | edit source]Having completed this lesson, you should be able to describe the methods of payment available for international transactions and the situation when each is appropriate. You should understand when payments will be made and the risks associated with each method of payment both to the buyer and the seller. Finally, you should know the benefits of agreeing to a particular method of payment and what kind of financing options it may or may not provide for the buyer and/ or seller.