1- Payment of international transactions : • Cheque

a) Cheque (regular endorsement or blank endorsement)
b) Crossed cheque (only the person indicated on the cheque can cash it)
c) Clearance cheque (cashed across bank counters)
d) Banker’s draft (a cheque drawn by a bank on itself or on another bank)
e) Uncovered cheque (if the drawee does not have enough capital on his account or, we can say, he has insufficient balance at the moment he has to realize the payment, his account should be covered by a sufficient overdraft facility )
f) Post-dated cheque (the agreed date of collection is placed on the cheque)
g) Endorsement « only for collection » (the party that receives a cheque endorsed only for collection acts as a holder on behalf of the owner)

• Bill of exchange (or a Draft)
Def : A written, dated and signed three-party instrument containing an uncoditional order by a drawer that directs a drawee to pay a definite amount of money to a payee on demand or at a specified future date.
The « Rule of Thumb » stipulates the drawer of any financial instrument is liable for payment.
There 3 types of bills of exchange :
a) Sight B/E : the buyer must pay the seller when he receives the documents from the lattest.
b) Time B/E : the buyer can pay the seller at a specified date or at a specified time
c) Deffered B/E : the buyer can pay the seller at a specified date or after a certain time from the moment he presents the sight bill to the bank. The difference between time bill and deffered bill is that in the case of the lattest, even if the payment is deffered, the bill it is a sight one.
d) A Red Clause : Advances are made to the seller before it presents the B/E to the bank. It is beneficial to middlemen and dealers.
Settlement of the Bill of exchange :
1) The seller and the buyer agree on using a Bill of exchange
2) The seller writes a B/E to the Buyer and sends it to the lattest for acceptance
3) After acceptance, the