If a Letter of Credit isn't the right option for your business, other options exist to help you get paid when exporting goods overseas. Our Business West team can help you navigate alternative possibilities. 

Export Collection

Export Collection is a payment method frequently used in international trade. This type of transaction is sometimes referred to as Cash against Documents (CAD). Payment is usually due at sight or at a future date, however you should note that banks involved in the transaction do not guarantee payment.

Open Account

An open account transaction is a sale where the goods are shipped and delivered prior to payment being due, e.g. 30, 60 or 90 days. This can be high risk to the exporter, but the exporter can seek protection by obtaining export credit insurance.

To find out more about these options and the costs involved, please contact the Business West team

How do you minimise your risk of not getting paid when dealing with a new customer or country?