Payment Tips For Service Exporters
Service firms most typically extend to the customer an "open account," meaning that the service is produced and delivered before payment is received. You may wish to negotiate partial payment prior to delivery to protect yourself in case of default or extensive delay in settling the account.
Unless you are incurring major expenses in another currency, your safest route is to negotiate payment in Canadian dollars. That way you will be unaffected by currency changes. However, the customer may be unwilling to accommodate your request.
The most rapid ways to get paid from abroad are cash-in-hand or a wire transfer directly to your bank in Canada. If you want payment by wire transfer, you will need to supply your customer with the routing information for your bank, as well as your bank account number.
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