EXPORTER METHODS OF PAYMENT

We offer a variety of options to help exporters receive payment from their buyers in a mutually acceptable way.

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About exporter methods of payment

Overview

International trade offers great opportunities, but dealing with overseas partners also presents challenges. This includes finding payment methods that are acceptable to you and your buyer.

As an exporter you will want the highest price, payment as soon as possible and control over the goods until payment is received. Your buyer will want to minimise costs, defer payment and receive and examine those goods before payment.

Our solutions for a commercial compromise include:

Clean payment
Open account
Documentary collection
Documentary credit
International Money Transfer

Clean payment/Open account

Clean payment

The buyer pays by telegraphic remittance or by bank draft

Open account

A negotiated agreement between exporter and buyer
Terms specify how much the buyer can order and when/how payment will be made

Documentary collection and credit

Documentary collection

Consists of a bill of exchange and various shipping documents (e.g., invoice, transport document, insurance policy) needed by buyers to take delivery
Documents are released to the buyer in exchange for immediate payment or endorsement of the bill of exchange as a promise to pay at a future date

Documentary credit

A bank guarantee of payment
Payment is made by the buyer’s bank once the exporter presents relevant shipping documents and meets any other pre-negotiated conditions

International Money Transfer

The buyer authorises their bank to debit payment from their account and electronically credit the exporter
Cleared funds are typically received the same day

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Important Information

As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. View our Financial Services Guide (PDF 59kb).

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