Differences between SEPA, SWIFT and UK Faster payments

Differences between SEPA, SWIFT and UK Faster payments

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When you begin your journey in payments, you can easily feel overwhelmed because of the many types of payments and payments systems available out there. How to easily understand what they are and how to differentiate them? In this article, we revisit one key concept and explain the differences between SEPA Payments, UK Faster Payments...
The Standby Letter of Credit – Definition, Issuance and Notification

The Standby Letter of Credit – Definition, Issuance and Notification

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Another prominent payment technique used in international trade is the Standby Letter of Credit. What is a Standby Letter of Credit (SBLC)? How is it different from a Letter of Credit? How do issuance and notification of a Standby Letter of Credit work? ... This article provides the answers to these questions. We already know...
Documentary credit process confirming bank

Documentary credit process with a confirming bank

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After the issue and the notification of a documentary credit, the next step is its actual processing. As we saw in a previous post - Documentary credit - Definition, main actors, how it works - the exporter's bank can play two roles: 1) It may just notify the exporter that there is a documentary...
Documentary credit process notifying advising Bank

Documentary credit process with a notifying bank

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After the issue and notification of a documentary credit, the next step is its actual processing. As we saw in the previous post - Documentary credit - Definition, main actors, how it works - the exporter's bank can play two roles: 1) It may just notify the exporter that there is a documentary credit...
Documentary credit

Documentary credit – definition, main actors, how it works

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Documentary credit, not to confuse with documentary collection, is the most used payment technique in international trade. It is therefore of particular interest for trade professionals. What is a documentary credit? How does it work? Who are the main actors involved in a documentary credit process? Read on to get the answers to these...
Documentary collection documentary remittance

Documentary collection – definition, main actors, how it works, SWIFT messages

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Documentary collection is one of the common payment techniques used in international trade to facilitate import/export operations. In this post, we provide the definition of a documentary collection, present the key players and the related process steps. Before starting our analysis, take note of this interesting remark: documentary collection belongs to payment techniques that require...
Cash delivery called Cash against delivery

Cash on delivery in Trade Finance

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In the previous article, we started our analysis of payment techniques with the payment against invoice. In this post, we consider another payment technique called Cash on delivery or Cash against delivery. In Trade Finance, Cash On Delivery (COD) is a payment technique in which "Cash" is collected by the carrier upon delivery of the...
Simple collection payment against invoice

Simple collection or payment against invoice

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We begin our analysis of payment techniques with the payment against invoice or simple collection. This technique involves requesting the payment of exported goods against a simple presentation of the commercial invoice. The importer is supposed to be paid upon receipt of the invoice (and possibly all documents enabling him to clear them), not after...
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