Criterios para elegir un medio de pago

Summary

In international trade, selecting the right payment method is crucial. The decision is typically made during the contract negotiation phase, often by the stronger party. Key factors influencing the choice include the trust level between exporter and importer, payment security, and the associated costs. The only payment method that guarantees secure payment is the irrevocable, confirmed letter of credit. Additional considerations include documentation requirements, control over payment timing, and ease of obtaining financing.

Takeaways

• 😀 The choice of payment method in international sales is made during the contract negotiation phase.
• 😀 Either party can propose a payment method, but it is typically decided by the stronger party in the negotiation.
• 😀 The selection of the payment method is influenced by factors such as trust between exporter and importer.
• 😀 Payment security is important, but choosing one payment method over another doesn't necessarily guarantee higher security for the exporter.
• 😀 The only payment method that guarantees payment for the exporter is an irrevocable, confirmed letter of credit (documentary credit).
• 😀 The cost of the payment method, in comparison to alternative instruments, is a key factor in decision-making.
• 😀 Documentation requirements vary by payment method, and this affects the choice of payment instrument.
• 😀 It is crucial to consider who controls the timing of the payment when choosing a method.
• 😀 The ability to obtain subsequent financing is another important criterion when selecting a payment method.
• 😀 The decision regarding payment methods should ensure that the exporter does not lose goods before receiving payment.

Q & A

What are the key aspects to consider when selecting a payment method for international sales?

The key aspects include determining who can choose the payment method, whether the exporter or importer will control the payment moment, the level of trust between the parties, payment security, the cost of each payment method, the type of documentation involved, and the ease of obtaining financing later.

Who typically decides which payment method to use in international sales negotiations?

Although either party can propose a payment method, the stronger party in the negotiation generally makes the decision.

What role does trust play in selecting a payment method for international transactions?

The degree of trust between the exporter and importer influences the choice of payment method. Higher trust may allow for more flexible payment methods, while lower trust may require more secure methods.

What does payment security refer to in the context of international sales?

Payment security refers to the certainty that the exporter will not lose the goods before receiving payment. This does not guarantee payment but ensures the safety of the goods until payment is made.

Which payment method guarantees the security of payment in international trade?

The only payment method that guarantees payment security is an irrevocable confirmed letter of credit (credit document).

How does the cost of a payment method impact the decision-making process?

The cost of each payment method relative to other alternatives is an important factor in selecting a payment method, as businesses need to evaluate the cost-effectiveness of each option.

What are some considerations regarding the documentation required for different payment methods?

Each payment method involves different types of documentation, and these requirements must be carefully considered when selecting the appropriate method for a transaction.

Why is it important to understand who controls the moment of payment in an international sale?

Understanding who controls the payment timing is crucial because it affects the financial risks and timing of the transaction. The party controlling the payment moment has significant leverage in the negotiation.

What is the significance of obtaining financing after making a payment decision?

The ease of obtaining financing after the payment decision is important because it impacts cash flow and liquidity. Some payment methods may provide better opportunities for securing financing.

Can a payment method provide both security for the exporter and flexibility for the importer?

Yes, some payment methods strike a balance between providing security for the exporter (such as the letter of credit) while also offering flexibility for the importer in terms of payment timing.