What are the payment methodsfor exporters?

Question

Accepted Answer

Exporters have various payment methods including wire transfer, letter of credit, and online payment platforms.

Wire transfer is a common payment method where the exporter receives payment directly to their bank account.
Letter of credit is a guarantee from the importer's bank that they will pay the exporter upon completion of the agreed-upon terms.
Online payment platforms like PayPal and TransferWise are becoming more popular for international transactions.
Exporters may also accept payment through cash in advance, open account, or documentary collection.
The payment method chosen will depend on factors such as the relationship between the exporter and importer, the level of trust, and the risk involved.
It is important for exporters to carefully consider the payment method and ensure that it is secure and reliable.

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