It's a kind of payment in which importer has the opportunity of making the payment later on, on a date which is specified by an agreement, after the goods are received by the importer. Since the payment is made after the receipt of the goods, it is the payment method which has the lowest risk for the importing company.
In this payment method, the importer is advantageous because it clears the goods from customs and has a chance to control them without making any payment. On the other hand, the exporter faces the risk that the importer may not make the payment for the goods.
Exporters can guarantee their payment by using the policies they issue on which the importer's bank will add a bill of guarantee.
You can make import payment on delivery from all Aktif Bank branches through your order in which you add your information of customs declaration.
How Does It Work?
Exporter ships the goods to the importer prior to payment.
After the importer clears the goods from customs, it makes the payment to the exporter in a specified period.
1. Do not inspect loading documents.
2. Do not get into the liability of payment unless they add any bill of guarantee in the policy.
3. Do act independently from sales contract.
1.Low cost – it enables cost controlling with the help of low expenses of the banks
2.It's a simpler and easier payment method compared letter of credit.
3. It provides guarantee for the importer.
Exporter faces the risk that the importer may not make the payment for the goods (if there is not any policy with a bill of payment)