Hello everyone, the theme of my Eng

Hello everyone, the theme of my English report is different payment terms in international business. First of all, we need to make it clear that there are mainly three payment terms in international business: remittance, collection and letter of credit. Let's get to know about remittance first. Remittance is the payment term that the payer remits the payment to the payee through the bank or other means according to the agreed conditions and time. There are three ways of remittance, i.e. mail transfer, telegraphic transfer and bill transfer. Next let's look at collection. Collection means that the exporter issues a bill of exchange together with the shipping documents and entrusts the Bank of the exporting country to collect money from the importer through the collecting bank of the importing country.The last term of payment is letter of credit. A letter of credit is a document issued by a bank to an exporter to guarantee payment at the request of the importer.Due to the limited time, the above briefly introduces the three main payment terms in international business, hoping to help you understand it. Thank you for listening.