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hi friends my name is Billy Fong from tra Lings resources which specialize in training on letters of credit incore terms UCP 600 case studies on international trade and shipping documents prior to setting up tra links resources in the year 1994 I was the head of the trade Finance faculty of an International Bank in Malaysia where I conduct training on the S topic for bank managers Bank officers after setting up tra links resources uh I've been training um staff from more than 2,000 companies from Malaysia Singapore Indonesia and the Middle East after 25 years of training experience I've now decided to share my experience with the online uh International Trade communities by producing videos like what we are going to present uh to you all okay the first video will be on the topic matters of payment in international trade uh this will be presented by my assistant uh suling uh and we uh if you like this this video and uh uh uh you know please subscribe to our channel in in fact we have more videos coming up especially on case studies relating to international trade thank you hi everyone as mentioned by Mr Billy I am suling I'll be presenting our online content to you in our YouTube channel so let us move on to our first video which is methods of payment in international trade hi everyone we'll be looking at the methods of payment in international trade in international trade there are two parties which are the exporter and the Importer from exporter to importer there are movement of goods another movement from exporter to importer is the movement of documents from the Importer to exporter there is movement of payment from this three movement of goods documents and payment there are four methods of payment which are open account Advanced payment documentary collection and documentary credit we shall be looking at the four methods of payment in detail in the next slide we will be looking at open account we have the exporter on the left and the Importer on the right so the exporter and importer will get into a sales contract once the contract has been signed the exporter will then ship out the goods to the Importer after shipping out the goods to the Importer the exporter will prepare the necessary shipping documents such as bills of lading invoice and packing list and will forward the documents over to the Importer so when importer has received the documents and when the goods has arrived at the Port the Importer will be able to clear the goods at the port in this case the goods are available to the Importer before payment and is there any risk to the Importer certainly none once the Importer has received the goods the Importer will subsequently make payment to the export the timing of the payment will depend on the sales contract and is there any risk to the exporter certainly yes because the exporter relies completely on the Importer to pay as agreed as per the sales contract so this is a situation where the exporter will rely on the Importer to...
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