Payment Methods in Exporting and Importing
In the course of business transactions, receiving payment is relatively complicated in international business. Foreign currencies may be unstable. Governments may be reluctant to allow funds to leave the country. In the event of disputes, local laws and enforcement systems may favor local companies over foreign firms.
In advanced economies and many emerging markets, firms may extend credit to buyers with the assurance that they will be paid. It is typical for exporters to allow these customers several months to make payments or to structure payment on open account. In trading with some developing economies, however, exporters extend credit cautiously because of the risk that some customers may fail ...
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