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PAYMENT IN ADVANCE, CHEQUES, BANK DRAFT - Coggle Diagram
PAYMENT IN ADVANCE
most secure for exporter
last secure for importer
payment befor goods shipped
in full
used for small order
two tipe
Cash With Order
order accepted if buyer pay when it is placed
Cash On Delivery
goods are shipped after payment
CHEQUES
are orders of payment
order bank to pay
subjects
drawee
(bank)
drawer
(costumers)
payee
(Beneficiary)
can cashed in any bank
can used as payment
BANK DRAFT
similar to cheques
ask permession to bank
indicate ammount and whom
if have money
therisn’t the risk of
outstanding