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Teaching Objectives Upon completion of this chapter, you will Recognize the major payment instruments in international trade Understand major methods of payment in international trade Familiarize the general process of using Letter of Credit and Documentary Collection and the respective involving parties Learn to write letters for negotiating terms of payment Text Analysis Introduction to the Chapter 7.1 Nature of International Payment 7.2 Instruments of International Payment 7.2.1 Draft 7.2.2 Promissory Note 7.2.3 Check 7.3 Methods of International Payment 7.3.1
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