Advance Payment
Secure global transfers
When an exceptionally high level of trust exist between the importer and exporter, then remittance of funds in this instance is normally effected before goods are dispatched, received, or the service has been rendered.
What this is
Quick effective transfer
The buyer pays the seller before the goods have been shipped, or in some cases before the goods have been manufactured.
Payment can be effected by SWIFT transfer.
Advance Payment Guarantee
Safety + security
This enables the employer to get a refund of advance payments made in the event of default by the contractor.
It is issued for the full amount of the advance payment, but may contain reduction clauses, which enable a reduction in the maximum amount upon evidence of progressive performance.
Steps involved
There are several steps involved that you need to know when exporting and importing.
