Means of payment in the United Kingdom

Collection

Exports to the United Kingdom

  • In general, this works bypayment works on sight of invoice at 30/45 days end of month.
  • Simple transfer:common means of collection and payment
  • Documentary Credit:gives the seller a guarantee of collecting payment

Payment

Imports from the United Kingdom

  • Transfer: in GBP/euros or U.S. dollars.
  • Documentary Credit:bank payment commitment conditional on submitting the documents accrediting export.