most international businesses are heavily involved in foreign trade in addition to their other overseas activities. This financing of trade-related working capital requires large amounts of money, as well as financial services such as a letter of credit and acceptances. it is therefore essential that the International financial executive knows the Institutions and documentary procedures that have involved over centuries to facilitate the international movement of goods.
In international trade payment terms are crucial. A few of them are cash in advance, letter of credit, draft consignment and open account.
Letter of credit, bill of landing, commercial invoice, insurance certificate, and counselor invoice are the major documents used in world trade.
A financing technique in overseas trade includes forfeiting and factoring.
Short and long term credits and Exim Bank are the major ways of export financing.
Counter trade also called butter trade has staged a comeback. It is one of the ways of settling the International transaction.
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