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There are 7 modes of International Payments: 1. Demand Drafts 2. Mail Transfers 3. Telegraphic Transfer 4. SWIFT( Society For Worldwide Interbank Financial Telecommunication) 5. Letters Of Credit 6. Through Settlement 7. via CHIPS ( Clearing House INternal Payment System) and CHAPS ( Clearing House Administrative Payment System)

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14y ago

There are six possible modes for international payments: 1. Demand Draft 2. Mail Transfers 3. Telegraphic Transfer 4. Swift 5. Letter of Credit 6. Through settlement

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Q: Modes of payments in international business?
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