Advance Payment 

• It is payment type whereby the value of the goods is paid before the delivery of the goods to be imported. The goods will be shipped upon the receipt of the payment by the exporter. Thus, the buyer can get a cash discount for paying the value of the goods in advance.​​ 

 

  

 Cash Against Documents 

• A service that involves the delivery of the relevant shipping documents to the domestic buyer sent by the exporter via the correspondent bank and through the our Bank. 

 Cash Against Goods 

• In this payment method, value of the goods is transferred after the clearance of the goods sent by the exporter. Thus, the risk is eliminated for the importer because of payment is made after delivery of the goods. 

 Payment Against Acceptance 

• It involves the payment by the importer after delivery of the goods at a certain date as agreed with the exporter and as stated on the bill of exchange. The tenor of any bill of exchange, issued in the form of acceptance credit that can be utilized as based on a letter of credit, cash against documents or goods, is determined freely without any limitation so as to start from the date of acceptance. Thus, the importer has the opportunity to buy on credit.  

 Letter of Credit (L/C) 

• Letter of Credit is the commitment made by any bank upon the instruction of an applicant to make a payment at a certain amount within a certain period of time against the presentation of the documents that are appropriate to the terms and conditions as specified in such letter of credit (complying presentation). In international trade, the parties have a mutual attitude of distrust and risk since they are not well-acquainted with each other and different foreign exchange regimes are applied in different countries. Letter of Credit is a type of payment that provides guarantee of payment at the highest level for both parties.