{"id":30098,"date":"2015-05-03T09:15:26","date_gmt":"2015-05-03T09:15:26","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=30098"},"modified":"2024-04-03T13:16:45","modified_gmt":"2024-04-03T07:46:45","slug":"export-and-import-payment-methods","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/export-and-import-payment-methods\/","title":{"rendered":"EXPORT AND IMPORT PAYMENT METHODS"},"content":{"rendered":"

\"EXPORT<\/a><\/p>\n

Payments Practices in International Trade:<\/strong><\/p>\n

To succeed in today\u2019s global marketplace\u00a0\u0097exporters must offer their customers attractive sales terms\u00a0\u0097supported by the appropriate payment method to win sales against foreign competitors.\u00a0As getting paid in full and on time is the primary goal for each export sale,\u00a0\u0097an appropriate payment method must be chosen carefully to minimize the payment risk while also accommodating the needs of the buyer.<\/p>\n

\u0097During or before contract negotiations, it is advisable to consider which method in the diagram below is mutually desirable for the exporter and his customer.\u00a0\u0097International trade presents a spectrum of risk, causing uncertainty over the timing of payments between the exporter (seller) and importer (foreign buyer).<\/p>\n

\u0097To exporters, any sale is a gift until payment is received.\u00a0Therefore, the exporter wants payment as soon as possible, preferably as soon as an order is placed or before the goods are sent to the importer.<\/p>\n

\u0097To importers, any payment is a donation until the goods are received. \u00a0Therefore, the importer wants to receive the goods as soon as possible, but to delay payment as long as possible, preferably until after the goods are resold to generate enough income to make payment to the exporter.<\/p>\n

Some of the methods of Import Payments are as follows:<\/strong><\/p>\n