Payment Methods and Finance for International Trade
This book explains various methods of payment in international trade and trade finance schemes for international trade. It also presents an overview of the concepts, purposes, features, and risks of international trade.A grasp of the features and risks of
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Payment Methods and Finance for International Trade
Payment Methods and Finance for International Trade
Sang Man Kim
Payment Methods and Finance for International Trade
123
Sang Man Kim International Trade Duksung Women’s University Seoul, Korea (Republic of)
ISBN 978-981-15-7038-4 ISBN 978-981-15-7039-1 https://doi.org/10.1007/978-981-15-7039-1
(eBook)
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2021 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Singapore Pte Ltd. The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore
Preface
This book covers various methods of payment in international trade and trade finance schemes for international trade. In addition, this book also overviews the concepts, purposes, features, and risks of international trade. Companies engage in international trade transactions for various purposes. Maximizing corporate value by increasing revenues and profits will be the ultimate goal for most companies. Companies engaging in international trade transactions are likely to gain more revenue and profits. International trade transactions, however, bring various risks that originate from the features of international trade transactions. Exporters may not get paid even after the performance of a contract. The risk of non-payment is largely dependent on the method of payment. In international trade, the number of documents required will vary depending on the individual transaction. Documents come in two types: financial documents and commercial documents. Financial documents mean bills of exchange, promissory notes, checks, or other similar instruments used for obtaining the payment of money, while commercial documents me
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