Editing User:Jukeboksi/BBA studies/Entering Target Markets
The edit can be undone. Please check the comparison below to verify that this is what you want to do, and then publish the changes below to finish undoing the edit.
Latest revision | Your text | ||
Line 171: | Line 171: | ||
=== Export and import practicalities - Methods of [[w:payment|payment]] === | === Export and import practicalities - Methods of [[w:payment|payment]] === | ||
* '''Open account''' | * '''Open account''' | ||
* '''[[w:Documentary collection|Documentary collection]]''' | * '''[[w:Documentary collection|Documentary collection]]''' | ||
:: | * '''[[w:Documentary credit|Documentary credit]]''' -> L/C ensures payment | ||
* '''[[w:Advance payment|Advance payment]]''' | |||
* A '''[[w:documentary collection|documentary collection]]''' is a process, in which the [[w:seller|seller]] instructs his [[w:bank|bank]] to forward [[w:document|document]]s related to the [[w:export|export]] of goods to the [[w:buyer|buyer]]'s bank with a request to present these documents to the buyer for [[w:payment|payment]], indicating when and on what conditions these documents can be released to the buyer. ( Wikipedia ) | |||
:::Documentary Collections facilitate [[w:import|import]]/export operations. ''They do not provide the same level of security as '''[[w:Letters of credit|Letters of Credit]]''', but, as a result, the costs are lower.'' ( Wikipedia ) | |||
:::Unlike the Letters of Credit, for a Documentary Collection the bank acts as a channel for the documents but does not issue any [[w:payment covenant|payment covenant]]s (does not guarantee payment). The bank that has received a documentary collection may [[w:debit|debit]] the buyer's account and make payment only if authorised by the buyer. ( Wikipedia ) | |||
::: Documentary collection is done with the '''[[w:Bill of lading|Bill of lading]]''' ( jubo-jubo ) | |||
* '''Documentary credit''' redirects to '''[[w:L/C|L/C]]''' as L/C as it is done with L/C ( jubo-jubo ) | |||
== Export and import practicalities - Lesson 5 - NO CLASS == | == Export and import practicalities - Lesson 5 - NO CLASS == |