International Payments

What procedures are involved in a cash in advance transaction?

The importer/buyer pays the exporter/seller by check, draft or wire transfer before the exporter/seller ships the product to the importer/buyer. An exporter/seller who receives payment by check or draft should not consider such payment as "cash in advance" until the check or draft has cleared and good funds have been deposited in the exporter's/seller's bank account.

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