Operating in international markets can throw up a range of payment challenges. The payment terms that you offer an overseas buyer can make a real difference to securing a contract, however you also need to make sure you protect yourself to ensure you get paid.
There are some common payment options to consider:
you receive some or all of the payment amount upfront
which involves you shipping your goods or services but retaining control of them until you receive payment or a legal undertaking of future payment from your overseas buyer
(or open credit) which gives your buyer certain credit terms by delivering your goods or services with an invoice requesting payment on a specific date after delivery.
Your bank will be able to provide more comprehensive advice about choosing the right payment option for you.