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Charge Account (Cash Against Goods)

Charge Account (Cash Against Goods)

The exporter submits delivery documents directly or to the importer or via the bank, free or against a against a draft/bill of exchange.The Importer pays the exporter after clearing the goods from customs in accordance with the agreement.

  • It is the most risky method for the seller, and the safest for the buyer.
  • If the seller is worried about not getting paid on the due date, it should request a Standby L/C from the buyer’s bank. (Standby L/C: Likewise a letter of guarantee it commits to make the payment in the event a contractual obligation is not fulfilled.)

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