Method of payment. Payments through the Post office. Payment through the bank.
1. Cash ( coins, notes) 2. Payment through the Post Office ( postal money order, Giro transfer, C.O.D system) 3. Payments through banks home trade(cheques, credit transfers) Foreign trade (banker.s transfer ( mail,b/e, telegrapic etc) Home and foreign(banker’s draf. l/c)
It used by sender who have no bank or giro ( postal cheque) account. Payment by money order Payment by postal cheque (Giro transfer) Seller sends goods C.O.D
A Bank cheque is a particular form of bill of exchange, but unlike other bills of exchange it is always payable on demand. Payment by bank cheque Payment by credit trasnfer Payment by banker’s draft