Foreign Trade Payments
Hayat Finans is always with you, offering various methods for your foreign trade payments!
Payment Methods
Advance payment is a payment method that the importer transfers the amount specified in the contract in advance to the bank account of the exporter before receiving the purchased goods.
A portion or all of the cost is paid before the shipping or customs processing of the purchased good.
- Since there is a possibility of the exporter not shipping the goods as per agreed or not shipping the goods at all, even though the importer paid the cost of the purchased good in advance, it is the payment method with the highest risk involved for the importer.
- The exporter may make a discount on goods price since the importer will make a portion or all of the payment in advance.
- It is an ideal payment method for the exporter as the cost of the goods will be paid in advance.
Cash against goods is a payment method that the exporter sends the documents to the importer directly. Therefore the importer clear the goods from the customs before making the payment through their bank.
- Since the exporter performs the shipping of the goods before collection, this is a payment method with the highest risk involved for the exporter.
- It is the safest payment method for the importer since they will be able to make the payment after receiving the goods.