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
Contact the Business West team
Find out more about how to get paid when you export