CARA PEMBAYARAN EKSPOR IMPOR - APA ITU LETTER OF CREDIT? - BELAJAR EXPORT UNTUK PEMULA DARI NOL

Summary

This video explains various payment methods for export and import transactions, focusing on the pros and cons of each. Key methods include Letter of Credit (LC), Advance Payment, Open Account, Consignment, Document Against Payment, and Document Against Acceptance. The video highlights the importance of choosing secure methods like LC for safety and outlines the risks associated with methods like consignment and open accounts. Additionally, it offers tips for protecting against fraud, including the necessity of having a formal contract in place before proceeding with transactions.

Takeaways

• 😀 Letter of Credit (LC) is the most secure and popular method for export-import transactions because it involves a bank as a third-party to ensure payment.
• 😀 There are two types of Letter of Credit: Sight LC (payment made once proof of shipment is provided) and Usance LC (payment is delayed by 30 to 120 days).
• 😀 Advance Payment requires the importer to pay in full or partially before shipment, which is safer for the exporter but risks the buyer losing money if the deal falls through.
• 😀 Open Account is riskier for exporters since goods are shipped before payment, and there is a chance the importer may not pay.
• 😀 Consignment involves the exporter sending goods to the importer, but payment is only made after the goods are sold, which is highly risky for the exporter.
• 😀 Documents Against Payment (D/P) allows the exporter to send documents for the buyer to pay, but the risk exists if the buyer changes their mind after shipment.
• 😀 Documents Against Acceptance (D/A) delays payment for 30, 60, or 90 days after shipment, providing flexibility for the buyer but increasing risk for the exporter.
• 😀 For exporters, the safest method is to use Sight LC to ensure payment once proof of shipment is provided, avoiding payment delays.
• 😀 Always have a written contract that clearly outlines the goods, quantities, payment terms, and responsibilities to prevent fraud and disputes.
• 😀 A strong, long-term relationship or mutual trust is essential in methods like Advance Payment or Consignment, where the risk is higher for the exporter.

Q & A

What is the most commonly used payment method in international trade?

The most commonly used payment method in international trade is the Letter of Credit (LC), as it involves a bank acting as a third party to ensure payment security for both the exporter and the importer.

What are the two types of Letter of Credit (LC)?

The two types of Letter of Credit are 'Sight LC' and 'Usance LC'. In Sight LC, the payment is made immediately once the exporter provides proof of shipment. In Usance LC, the payment is delayed for a set period after the proof of shipment is provided, which could range from 30 to 120 days depending on the agreement.

What are the advantages of using an Advance Payment method?

The advantage of using Advance Payment for exporters is that they receive payment upfront, which can help with production costs. It is usually used when there is mutual trust between the exporter and the importer or when the exporter is selling exclusive or hard-to-find products.

How should an exporter handle the remaining payment after an Advance Payment?

The exporter should establish an agreement with the importer to pay the remaining amount once the goods have been shipped and proof of shipment, such as a bill of lading, has been provided. This ensures the payment is received even if there is a delay in the delivery.

What is the risk associated with Open Account payment method?

The Open Account payment method poses a risk to exporters because the importer makes the payment only after the goods have been shipped and received. There is a risk of late or non-payment, which can be stressful for the exporter.

What is the Consignment payment method, and what risks does it carry?

In the Consignment payment method, the exporter sends goods to the importer on the condition that the goods will be sold and payment will be made after the sale. The risks for the exporter include the possibility of goods not being sold, being damaged, or the payment being delayed or withheld.

How does the Documents Against Payment (D/P) method work?

In the Documents Against Payment method, the exporter sends shipping documents to their bank, which forwards them to the importer's bank. The importer is notified to make payment, and once the payment is made, the shipping documents are released to the importer to collect the goods.

What is the difference between Documents Against Payment (D/P) and Documents Against Acceptance (D/A)?

The main difference between D/P and D/A is the timing of payment. In D/P, the importer must pay before receiving the shipping documents. In D/A, the payment is deferred, with the importer having up to 90 days to pay after receiving the goods, depending on the agreement.

What are the key precautions when using payment methods like Letter of Credit or D/P?

When using methods like Letter of Credit or D/P, it’s crucial to ensure all terms are clearly outlined in a formal sales contract, including details of the goods, the payment method, and the timeline for payment. This minimizes the risk of misunderstandings or disputes.

What is the process for using Letter of Credit as an exporter?

As an exporter, you must first have the importer open a Letter of Credit at their bank. The bank then sends the Letter of Credit to a correspondent bank in the exporter's country, which validates it. The exporter ships the goods, provides the necessary shipping documents to their bank, and upon verification, receives payment. The importer can then collect the goods by presenting the documents to their bank.