Getting paid

6 months ago
admin5276
340

Getting paid is often the hardest part of your international trade transaction. Even if you are used to taking payment up-front in your domestic market, you will find that much harder in an overseas market. Moreover, the method by which your customers agree to pay will have an effect on the likely cost of providing the goods. You will also want to quote the agreed payment method in your sales quotation and sales contract. If your customer is desperate for your goods then you will be in a position to dictate terms — it is far more likely, however, that you will need to compromise on the payment method.

Getting paid is often the hardest part of your international trade transaction.

This factsheet outlines a range of payment methods which are open to you. These will be determined by the type of goods or services as well as the country from which the order originated. Some countries have closed or restricted currencies, governing the route by which money travels from the buyer to yourself. The sales and financial contracts will thus need to take into account the laws specific to the country with which you are dealing. And you may want to reflect the perceived financial risk in the price.