Foreign trade may involve risks not present in domestic trade. By selecting the correct method of payment, your company can reduce such risks and ensure success in trading.
A suitable method of payment for stabilised trade relationships is the direct foreign payment, which is a transboundary account transfer through eBanking or bank connection software. When you use the international IBAN account number and the bank's SWIFT address on your company’s invoices, payments are routed directly to the account of your choice.
For trading in distant countries or developing markets, you should select collection or documentary credit. Guarantees and standby letters of credit are suitable for different security needs.