Business Btec Unit 5 C and D
Cash in Advance - --A bank transfer in Advance
-May be used if cash is needed to produce good first
-Letters of Credit - -Guarantees that banks issue on behalf of the customer wherein if the buyer doesn't pay on time, the bank will pay and then collect from the buyer.
-open account - -export/import financing in which an exporter ships merchandise and later bills the importer for its value
-consignment - --Payment is sent after the goods have been sold to the final customer -Contract in place that the seller is the legal owner until the goods have been sold.
-International Credit Card - --May have lower fees for different currencies
-Widely used but with different rates and benefits
-International Bank Transfer - --Secure way to move money from one country to another
-Could be set up in other countries but may only accept popular currencies
-Commercial Payment Systems - --Popular payment methods to move money between countries
-Visa, Google Pay, Apple Pay
Cash in Advance - --A bank transfer in Advance
-May be used if cash is needed to produce good first
-Letters of Credit - -Guarantees that banks issue on behalf of the customer wherein if the buyer doesn't pay on time, the bank will pay and then collect from the buyer.
-open account - -export/import financing in which an exporter ships merchandise and later bills the importer for its value
-consignment - --Payment is sent after the goods have been sold to the final customer -Contract in place that the seller is the legal owner until the goods have been sold.
-International Credit Card - --May have lower fees for different currencies
-Widely used but with different rates and benefits
-International Bank Transfer - --Secure way to move money from one country to another
-Could be set up in other countries but may only accept popular currencies
-Commercial Payment Systems - --Popular payment methods to move money between countries
-Visa, Google Pay, Apple Pay
