In the international trade market for export import trade, there are three main payment methods: Payment in full. Bills are collected. L/c (Letters of Credit)
Methods of Payments in Import.
Introduction.
Consignment Purchase.
Cash-in-Advance (Pre-Payment)
Down Payment.
Open Account.
Documentary Collections.
Letter of Credit.
Payment Options:
Cash.
Checks.
Debit cards.
Credit cards.
Mobile payments.
Electronic bank transfers.
When the buyer is required to pay the entire sum owed at sight, this is known as a CAD payment term. This payment is made before the buyer's bank releases the paperwork (collecting bank). Sight draught or cash against documents are other names for it.
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