Unit 8 Payment and LC.docVIP

Unit 8 Payment and L/C Part One Basic Knowledge Concerned 1. International Payments International payments are financial activities conducted among different countries. Paying for goods supplied in domestic trade is a fairly simple matter because payment can be made either in advance or within a reasonable short period after delivery. Payment is much more complicated in international trade. The sellers must sometimes wait several months for their money or the buyers may need to pay several months before they even see their goods. Clearly, both the sellers and buyers run certain risk