Cash-in-advance :

Cash in advance is a payment method in international trade

in which an order is not processed until full payment is
received by the supplier in advance. Sometimes cash in
advance is called cash with order. We always should keep in
mind that in cash in advance payment is received before the
ownership of the goods is transferred. Cash in advance
posses highest risk to the importer, lowest risk to the
exporter.

Open Account :

Open account means that buyers pay the cost of the goods
after goods have been shipped by the supplier. In an
international trade transaction open account defines as a sale
where the goods are shipped and/or delivered before
payment is due, which is usually in 30 or 60 days. Open

account posses highest risk to the exporter, lowest risk to the

importer.

Documentary Collections :

International trade procedure in which a bank in the

importer's country acts on behalf of an exporter for collecting
and remitting payment for a shipment. The exporter presents
the shipping and collection documents to his or her bank (in
own country) which sends them to its correspondent bank in
the importer's country. The foreign bank (called the
presenting bank) hands over shipping and title documents
(required for taking delivery of the shipment) to the importer
in exchange for cash payment (in case of 'documents against
payment' instructions) or a firm commitment to pay on a
fixed date (in case of 'documents against acceptance'
instructions).

A documentary collection (D/C) is a transaction whereby the

exporter entrusts the collection of a payment to the remitting
bank (exporters bank), which sends documents to a
collecting bank (importers bank), along with instructions for
payment. Funds are received from the importer and remitted
to the exporter through the banks involved in the collection in
exchange for those documents.

Documentary Credits :

Documentary credits, also known as letters of credit, are one

of the payment methods in international trade. Letter of
credit defined by International Chamber of Commerce
publication of UCP 600 as "any arrangement, however named
or described, that is irrevocable and thereby constitutes a
definite undertaking of the issuing bank to honour a
complying presentation."

Source : http://trade.gov/media/publications/abstract/trade_fi
nance_guide2008desc.html