payment in advance, The buyer pays before the seller sends the goods., open account, The seller sends the goods before the buyer pays., letter of credit, A bank promises to pay when it receives the correct documents., documentary collection, Banks exchange documents and payment for the buyer and seller., cash against documents, The buyer pays to receive the shipping documents., bank transfer, Money is sent from one bank account to another., cash payment, The buyer pays with money directly., deposit, The buyer pays part of the price before receiving the goods., balance, The part of the price that is still unpaid., due date, The final date for making a payment., instalment, One of several smaller payments., payment receipt, A document that shows that a payment was made.
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Payment terms A2
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