Collect On Delivery (COD)
Collect On Delivery (COD) is a payment method where the buyer pays for the goods at the time of delivery, rather than in advance. This arrangement provides security for the seller, ensuring that payment is received upon delivery of the shipment.
Related glossary terms
Letter of credit (L/C)
Letter of credit (L/C) is a bank-issued guarantee that assures a seller payment once specific shipment and documentation conditions are satisfied by the buyer.
Commercial Invoice
Commercial invoice is the document used to declare cargo value, parties, and terms for customs. Learn required fields, duties impact, and common mistakes.
Draft
Draft in international trade is a payment order payable at sight or at a future date. Learn how sight drafts, time drafts, and acceptance work in shipping.
Pro forma invoice
Pro forma invoice is a preliminary bill of sale sent to buyers before shipment, estimating costs and outlining transaction terms for customs, financing, and…
