Discuss the process involved in securing payment for exports.
Answers
Answer:
The process involved in securing payment for exports are as follows :
After the shipment of goods, the importer is informed about it by the exporter. Various documents like certified copy of invoice, bill of lading, packaging list, insurance policy, certificate of origin and letter of credit are sent by the exporter through his bank. These documents are required by the importer for getting the goods cleared from the customs. The exporter gives the instruction to his banker to hand over the documents to the importer only when the importer accepts the bill of exchange.
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