MEANS OF PAYMENT USED IN FOREIGN TRADE
At the end of this lesson, students should be able to :
- Discuss the following means of payment used in foreign trade; wall transfer, telegraphic transfer, Guaranteed mail transfer, Traveler`s Cheque, Documentary credit and Letter of hypothecation
- Explain these terms of quoting price in international trade
- Cost, Insurance and Freight (CIF)
- Free on Board(FOB)
- Free Alongside Ship(FAS)
- Free on Rail(FOR)
- Cost and Freight(CF)
- Franco
- Free on Quay(FOQ)
- Loco
- Carriage Paid
- Carriage forward
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