Trade Open Account
If trust exists, there is no need to use and pay for the bank's services. There would be instead the same payment terms as adopted by most commercial transactions within a country - whereby one firm sells goods to another, sends them the invoice, and in due course (usually within 30 says) receive payment. This type of payment arrangement is known as open account.

Although, banks provide a useful and efficient collection service for exporter, they do not do it free of charge. So the cost involved for both collection of payment and the provision of financing when credit terms are involved, should be built into the exporter's quoted price to its foreign buyer. - To learn the Secrets of International Trade - Click Here