Learn procurement negotiation psychology, vendor mindset, buyer behaviour, cognitive biases and practical strategies for better commercial negotiation

In international procurement and global trade, selecting the right payment term is one of the most important decisions for both buyers and suppliers. Payment terms determine when and how money will be transferred, who bears the financial risk, and how secure the transaction will be.

Whether you are importing industrial equipment, electrical components, raw materials, or finished products, understanding international payment methods is essential for successful procurement operations.

In this guide, we will explain the most commonly used international payment terms including Telegraphic Transfer (TT), Letter of Credit (LC), Documents Against Payment (DP), Documents Against Acceptance (DA), and Cash Against Documents (CAD), along with their advantages, disadvantages, and practical applications.

Artificial Intelligence is rapidly transforming procurement from a transactional function into a strategic business partner. From automated purchase orders and demand forecasting to supplier risk scoring and contract intelligence, AI is helping procurement teams make faster and smarter decisions. This guide explores the key AI applications every buyer and sourcing professional should understand in 2026.

What is Procurement? Definition, Basics & Process

Procurement is one of the most important functions in any organization. It ensures that goods and services required for business operations are sourced efficiently, cost-effectively, and with the right quality.