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The timely delivery of the product and due realization of
the value is the fundamental requirement for any trade
transaction. The payment terms stipulation in the contract
have bearing on the risk considerations, costs involved
and the time involved. As compared to the domestic
trade, such risks are very high in the international trade
and the lack of proper understanding may create a
lasting effect on the business.
The publication highlights in brief, the different payment
terms in general and the payment system ‘Export Bill on
Collection Basis’ in particular. Readers are advised that
the same term can equally be used for the International
Trade (EXIM Trade) as well as for the Domestic Trade. The
book also includes some important definitions and terms
The attempt is made in the publication to highlight the
salient features and the pros and cons of the system.
However, the contents of the book are in brief and for all
practical purposes, it shall be of equal importance that
the study should also include the appropriate application
of the “Uniform Rules for Collection” the Pub. No: 522,
issued by The International Chamber of Commerce, Paris.
Readers will find in the book, enough material to have a
thorough and clear understanding and operational
details of the EXIM Payment Terms and Export Bill on
Collection Basis.