PAYMENT METHOD

In the Bangladesh Ready-Made Garments (RMG) export industry, several internationally accepted payment methods are commonly used to ensure secure and efficient trade between exporters and buyers:

1) Letter of Credit (LC)

> Irrevocable and transferable LC issued by the buyer’s bank in favor of the exporter

> Can be Sight LC or (Deferred) LC with premature payment clause

> Provides assurance of payment upon submission of compliant shipping documents

2) Telegraphic Transfer (TT / Wire Transfer)

> Advance TT (partial or full) before production

> Balance TT against documents or before shipment