International Trade eLearning Suite for SMEs-InTeLS

With more people trading across borders, payments systems and cultures, payment for exports is as vital as ever and increasingly complicated.

There are four main methods of payment for exports depending on the size and circumstances of your company:

Ø       Cash in advance - the ideal

Ø       Open account - if you know your buyer well

Ø       Collect on Delivery - more security where you have yet to establish a relationship

Ø       Letters of credit - security for the buyer and seller.

Through their accumulated experience and training, BCC's Accredited Chambers of Commerce can advise you on your options and help you liaise with your bank/finance company/factoring company/accountant to ensure you are asking the correct questions and know what to look out for.