The time has finally come to receive your hard-earned export payment. Clearly, receiving payment is perhaps the most important step in the export process. Without payment, you are likely to fail quite quickly. Exactly how you receive payment will depend on the payment method you have negotiated with the buyer.

There are generally four main payment methods when doing business across international borders. These are:

  1. Payments in advance
  2. Open account
  3. Documentary collections
  4. Documentary credits
  • You may also want to learn more about payment terms by clicking here.