Methods of international payments •Cash in Advance: This is like buying something online with your allowance before it's delivered. You pay first, and then you get the item. •Letter of Credit (LC): Imagine your parent giving a note to a store saying they'll pay for something you want once it's delivered. The store feels safe because they know they'll get paid. •Documentary Collection: It's like when you order something online, and the delivery person won't give you the package until you pay for it or agree to pay later. •Open Account: You buy something and promise to pay for it later. It's like borrowing money from your friend and paying them back when you have the cash. •Consignment: You sell things for someone else but keep the stuff until it's sold. It's like selling your friend's old toys and giving them a share of the money when they're sold. In this video also explain advantages and disadvantages of each method. #internationalpayments #internationaltradefinance #internationalfinancialmarket #internationalmarketing #modesofpayments #mcom #commmerce #educationalvideo #golecommerce #educationalchannel #gurugramuniversity