If you export goods, you can trade securely in the knowledge that you will receive payment, as long as you present documentation that satisfies the pre-agreed conditions.
The Payment risk is transferred from your buyer to a bank and you will know exactly when you will be paid for your exported goods.
It’s a commitment given by the buyer’s bank to you, that they will make payment when you present a pre-agreed, specified set of documents to a nominated bank in the country where your business is established. Funds can generally be advanced against compliant documents, or if documents are discrepant, after acceptance from the buyer’s bank has been received.
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