Methods of Payment in International Trade for Export & Import (2020)
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- čas přidán 20. 08. 2024
- 4 Methods of Payment used in International Trade are Open Account, Advance Payment, Documentary Collection & Documentary Credit
Website: tradelinks.com...
Online Course : www.tradelinks....
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For Importers that want to know How to Import and for Exporters that want to know How to Export, it is important to understand what are the methods of payment in International Trade.
Also, this video walks you through the movement of 3 items between the Exporter and Importer in International Trade. From the Exporter to Importer, there are movement of goods and shipping documents. From the Importer to Exporter, there are movement of money.
From these 3 movements of goods, shipping documents and money, there are 4 methods of payment which are
o Open account
o Advance payment
o Documentary Collection
o Documentary Credit
The video talks about when the goods are available to the Importer, the timing of the payment & the risks to the Importer under the different method of payment.
If the Exporter & Importer are new to each other and there is no trust between both parties, they need the bank to come into the picture and for this the bank had invented
o Documentary Collection Method - Sight(D/P- Documents Against Payment) & Usance (D/A-Documents Against Acceptance)
o Documentary Credit Method
This video is designed to provide those operating within International Trade : Exporters, Importers, Bankers & Insurers, Freight forwarders and Carriers an opportunity to broaden their understanding of methods of payment in International Trade.
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This video was produced by
1. Mr. Billy Fong Goon Poy, ACIB, MITD, Master Trainer
2. Ms Sook Ling, Online Content Creator
Tradelinks Resources conducts public training programs for the following International Trade courses in Malaysia
1. Incoterms 2010
2. Letters of Credit
3. Bills of Lading - Correct Preparation To Avoid Rejection by Banks - Jak na to + styl
If you like our video, please give us a thumbs up. Also we appreciate your comments or feedback. More videos will be coming soon , please click subscribe to this channel if you like to receive any updates regarding any new videos
Tradelinks Resources valueble information , thanks a lot.
If we use T/T can exporter to cheat
Ravi Kumar tg gyvà yêu Vy
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very nice presentation thanks a lot for your performance, I am waiting another episode in this subject matter
Starts at 1:55
This is amazing, you have just broke everything down and put it into logical sequences and good explanation. I can't thank you enough ❤
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I am someone who does not understand the trading business, with this video make me interested in knowing trading business especially about payment and important
documents
easy to understand and the slides are easy to remember. perfect. thank you
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Thank you very much for this video! it is very very well explained and concise. P.S.: I love your sound effects from the presentation :D
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thanks so much for this info... have a Marine Insurance exam tomorrow and this is more than helping. Good one!
Thanks for your comments
Наличка,вот лучший способ:)Cash,the best method to pay:)
Excellent way of explaining payments in exports.
thanks for your comment
thanks a lot ,living in turkey and it helps me a lot with understanding foreign trade
Thanks for your comments
i have got a lot from you r video ..thanks and keep it up
thanks for your comment
In advance payment generally the both parties agree for 30% adv and 70% again shipping documents or 50:50.
If you are exporter you must not allow Importers to handle shipping otherwise shipping company can release the BL without your confirmation.
You must instruct the shipping company or shipping agent that they should send Original BL to you. Or make a agreement with shipping agent that they will release BL only after your confirmation.
Hi genius where are you from 🔥
While watching kdramas....i accidentally come to k school 😂😂
Very good information helpful valuable video Relating to International business Trends sir Good Bless you sir I love my india 🇮🇳
these videos are treasure to me. thank you. keep up the good work!
Great to see and watch u Sir Billy Fong
Thaanks a lot .. amazing explaination
Sook Ling thanks for the videos and the way you explain present the topics is detailed and very easy to understand and follow
👍Thank you for sharing your knowledge sir.
👍Thank you miss.
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Thanks !! It helped me with the exam!!
You guys are life savers 🙌🏻🔥
thanks
Thank you very much! It helped me a lot with my homework!
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Easy , informative and professionally presented
Thanks for your comments
Very nice information relating to international trends
Thanks for liking
Many thanks for this video. Pls make video for TT, LC and ESCROW
Thank you
Please make more such videos in Gujarati language.
Thank you for the video! Great information and very valuable
Samuel Batarseh thanks !
thank you. from Sabah
thanks
thanks it was accurate but both of method there is risk of delaying payment if importer or exporter delay the goods or money what will they do to claim their money and goods because there isn't insurance
Please make a video on , how freight forwarding works, from quotation to untill job finished.complete video I am expecting.
thanks for your comment
Thank you!
Thanks for sharing, much appreciated.
thanks
Good day Mr Billy Fong. Kindly send me link of your lecture on Pitfalls and Traps in International Trade, please. God bless
Hi If I receive advance payment for export order, but later buyer wants to convert that payment as a consulting service to source the other Indian products, can one change the purpose code?
Excellent mam........
Thanks for the good job
It was a clear explanation on international payments.. It would be nice if u post a video on bill of lading types with example..
thanks for your comment, yes I'm currently working on a video on the types of bill of lading with the example
Knowing the volatility of markets are these fixed payment or variable payments?? The cost of doing business .
Thanks for the videos
payment is something we must face when we go international
it is great....
thanks for your comment
Thank you very much for your explanation.
thanks for your comment
Thank you this is helpful.
just one question...what would you say are the common mistakes made in exports operations?
In this year of increase business activities and trade due to the presentation of many products from research and development, and the products carried by the alliances per alliance and the increasing number of investors and would be allies for the interest of both parties, and tourists influx where some of them are not tourist in purpose there's what's called the Passive Transport and Active Transport of various activities and interests, and there could be bogus would be members as spy to any alliance or within the alliance themselves already like in the saying keep your enemies closer. I would advice for each alliance to create a core allies of trusted countries and organization and filter or screen would be members because in a cell for example when hostile harmful microorganism binds in the outer cell wall for example they could carry something that could break defenses. Thats why in a intrusion battle its either a camouflaged Trojan horse or a Hannibal style accomodation schemes.
I am hoping to learn from you about international trade.
sure you can learn from our online course on case studies in international trade -www.tradelinks.com.my/online-case-studies-course/
Superb and Useful Thanks a lot
thanks for your comment
thank you so much
thanks for your comment
Hello sir
I m from in India my question is how to save advance payment in import . From fake supplier
What is payment terms CAD in international export, how its works, please explain.
All videos are easy to understand. Nice explanations. Thank u so much. Can u please teach about ucp 600 articles with explanation
thanks for your comment
Hi could some one explain to me carfuly the open account pls
Please make more videos... I want to know more about this.
noted
Wots, wong, Billy Fong ?
Hello Mr Billy Fog.How can I also be trained? I am based in South Africa and I am now ready to start my Importing/Exporting Business.Thanks
I can help you.
You agree import leather
Awesome information!
thanks for your comment. is there any topics you would like to see in my next video?
You are cool people ♥️
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Excellent..!! Keep it up !!
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You dicussed all payment terms based on Banking Channel but you never discussed Credit Insurance, Factoring. In US, Due to L/C higher cost, we never used L/C but Credit insurance. Can you please include it and explain it too ?
thanks for your comments - noted
Its good. Thanks for uploading.
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Hi
In advance payment and open account we don't need bank to be involved ?
very good thanks
thanks for your comment
very good,really useful
thanks for your comments
God bless you
thanks !
How to remember ucp 600 articles
Thank you so much
thanks
But you didn’t teach the last two methods
❤
Omg bruce lee
Good
thanks !
sir I need a video about TT payment
thanks for your comments - noted
Thank you a lot, please can we have the same explanation in logistic course ?thank you......
sorry not sure what do you mean by logistic course
For simple descriptions of methods of payment:
hubpages.com/business/How-to-Make-Payments-in-International-Trade
👍
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coronavirus
This fellow should show some passion - the young lady was reading form a script. As the sheep said....... BAAAAAAAAAA- D
thanks for your feed back
nice eyes baby
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Thank you
Thank you
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Thank you
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