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- Upfront and advance payments as well as settlement after the goods delivery or services provision are not always acceptable for trading partners upon making export/import (or internal trade) transactions. In such case, one may use one of the safest forms of settlement, in particular, documentary letter of credit.
- If you are an exporter and agree to send goods on deferred payment, but you want to call to order your partner, we offer you to use documentary collection. This is a form of settlement, when a bank sends, upon the sellers instruction, commercial merchandise documents (waybills, invoices, certificates, etc.) and/or payment documents to the buyers bank authorising the latter to transfer the documents to the buyer only upon payment for the goods delivered or receipt of commitment to pay after a certain period of time has been given (acceptance of a bill of exchange).
- When a buyer agrees to the advance payment, yet, it wants to be sure that the money will be returned in case of default, in such case, the bank may perform the role of an intermediary controlling whether or not the money is paid, if you choose conditional settlement service. It is more convenient and quicker than a letter of credit. This way of settlement is of great convenience for a seller, since the payment is guaranteed by the bank, where the buyers money is deposited.
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