One of the subjects of international business that I have a particular interest in concerns the different payment tools that importers and exporters use when selling goods. There is an added level of risk present when conducting transactions internationally. This risk is in the form of theft, fraud, non-payment, complications of multiple governing agencies, and the inability to meet time deadlines. There are many financial payment tools that are currently being used to combat the problem of international transaction risk.
The most common payment types for an international transaction are a letter of credit, documentary draft for collection, open account, payment in advance, and barter.
Most of these transactions involve not only the importer and the exporter, but the respective banks of the parties involved, freight forwarders, and government customs agencies as well.
The Role of an Importer: An importer is a company that is bringing in, or importing goods to their......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: International Payment Methods
Approximate Word Count: 5169
Approximate Pages: 21 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on International Payment Methods, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!