How do you pay a foreign seller who you have never met without the risk of losing the money? After agreeing on the incoterms, the next step is to pay the seller. Cash in advance: With this method of payment, the buyer sends the money to the seller before receiving the product. The seller’s bank will then courier the documents to the buyer’s bank. Once the buyer’s bank gets the document then they will remit the money to the seller’s bank.

Source: Standard Digital June 02, 2021 17:37 UTC