When paying via ________, the goods are shipped by the exporter and received by the importer prior to payment, and the exporter then bills the importer for the goods, stipulating the amount, form, and time at which payment is expected.

Question

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This payment method is known as an open account, where the exporter sends the goods and then invoices the importer for payment at a later agreed upon time. Payment in advance requires payment before shipment, letters of credit involve a bank guarantee of payment, and countertrade involves exchanging goods or services instead of cash payment.

When Paying Via ________, the Goods Are Shipped by the Exporter