Terms of payment
4 important questions on Terms of payment
The three forms of the Letter of Credit:
- Recovable L/C
- Irrevocable but unconfirmed L/C
- Confirmed irrevocable L/C
Mention five arrangements of payment:
- Cash in advance
- Letter of credit
- Documents against payment and acceptance
- open account
- Consignment
Documents agains acceptance:
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
Factors the exporter will consider in negotiating terms of paument for goods to be shipped: (3)
- Practices in the industry
- terms offered by competitors
- relative strenght of the buyer and the seller
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding