Trade Finance 101: Best Practices for International Payment Methods and Letters of Credit
Webinar: 1 CCS Credit
There are five primary methods of payment in international transactions, but choosing one can be difficult because what is best for the seller may not be for the buyer. Buyers generally want to receive the goods sooner and make payment later, while sellers may want to be paid in advance to secure payment and help fund the purchase or manufacturing of the goods.
A successful contract must include a payment method that helps both buyer and seller minimize risk and maximize benefit. This webinar will examine how each payment method works, their benefits and limitations, and how different circumstances can impact how each may be used.
- payment options for various trade transactions
- risks and advantages of payment options for both buyers and sellers
- distinguishing between major categories of letters of credit
- application of different types of letters of credit to international trade transactions
- key issues with respect to each payment method that can be modified
- negotiating the best payment method for your transaction
TIFFANY N. COMPRÉS is a Member of Sandler, Travis & Rosenberg, P.A., resident in the Miami office. She is uniquely qualified to help people and companies buy and sell goods across borders and resolve international disputes. Although her primary area of expertise is the international fresh produce industry, she often takes cases in other sectors in which commercial international law is involved. She is fluent in Spanish and French and conversant in Italian.