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2014•Journal of Economic and Business ResearchOpen access

The Use of Payment Methods for the Settlement of International Liabilities

Petre Crăciun

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Abstract

In the case of payments through a letter of credit or collection, there will be a commercial contract between the parties, in which the payment method that will be used will be clearly stipulated, and the exporter will proceed to preparing the set of documents and their transmission. If the factoring is used as a payment method, the factor will proceed to an analysis of the accounts receivable, after which the seller’s accounts receivable will be taken over or not.

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What this paper is about

In the case of payments through a letter of credit or collection, there will be a commercial contract between the parties, in which the payment method that will be used will be clearly stipulated, and the exporter will proceed to preparing the set of documents and their transmission. If the factoring is used as a payment method, the factor will proceed to an analysis of the accounts receivable, after which the seller’s accounts receivable will be taken over or not.

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Available abstract

In the case of payments through a letter of credit or collection, there will be a commercial contract between the parties, in which the payment method that will be used will be clearly stipulated, and the exporter will proceed to preparing the set of documents and their transmission. If the factoring is used as a payment method, the factor will proceed to an analysis of the accounts receivable, after which the seller’s accounts receivable will be taken over or not.

Key concepts: Accounts receivable, Factoring, Payment, Settlement (finance), Letter of credit, Business, Finance, Actuarial science

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