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5 Payment Strategies to Protect Your Business in International Trade   Introduction:   Expanding into global markets unlocks massive opportunities – but payment risks can sink even the most promising deals. From currency fluctuations to non-payment, exporters and importers face unique financial vulnerabilities. Here’s how to trade confidently without losing sleep over cash flow. Key Sections: The High-Stakes RealitQuick stats: 30% of SME exporters face payment delays (ICC data).Real-world example: An Indian textile exporter’s $80,000 loss due to unclear payment terms. Smart Payment Methods Compared Method Risk Level Best For Tip Letter of Credit Low High-value/new partners Use confirmed LCs for unstable economies Documentary Collection Medium Trusted repeat buyers Avoid for perishable goods Open Account High Established relationships Pair with credit insurance Advance Payment Low (for seller) Custom orders 30% upfront min. to cover production 3 Pro Risk Mitigation Tactics Currency Hedging: Lock rates for 60-90 days using forward contracts. Credit Checks: Run global reports via Dun & Bradstreet or Euler Hermes. Escrow Services: Third-party holding funds until goods clear customs. Case Study: A Vietnamese coffee supplier reduced payment delays by 70% using: LC + Incoterms CIP (carrier insurance coverage) Blockchain docs via TradeLens   Conclusion:   Payment security isn’t about eliminating risk – it’s about strategic layering. Start with one upgrade (e.g., adding LC terms) and scale your safety net as you grow.