What are common methods of payment used in international trade? (Select ALL that apply)

What are common methods of payment used in international trade? (Select ALL that apply)
A . Telegraphic transfer
B . Mail transfer
C . Banker’s draft
D . Debit card payment
E . Documentary letter of credit (LC/LOC)

View Answer

Answer: A, B, C, E

Explanation:

Common payment methods in international trade include telegraphic transfer, mail transfer, banker’s draft, and documentary letter of credit (LC/LOC). These methods facilitate secure and efficient cross-border transactions. Debit card payments are more commonly used for domestic transactions. [P-135]