Method is a way of doing something

(Source : Merriam Websters Learners Dictionary)

Payment is something that is given to someone in exchange for something

else
(Source : Merriam Websters Learners Dictionary)

Method of payment is the way that a buyer choose to compensate the

seller of a good or service that is also acceptable to the seller. Typical
payment methods used in a modern business context include cash, cheque,
credit or debit cards, money order, bank trasfer, and online payment.

Cash is money or its equivalent (as a check) paid for

goods or services at the time of purchase or delivery.
Sir Damsoo is a wholesale vegetables for tomatoes,
lettuces, and cabbages. Sir Damsoo buy his merchandise from
farmers in Kabanjahe. Every month, he comes to Kabanjahe to buy
vegetables for his merchandise, 150 kg of tomatoes, 100 kg of
lettuces, and 150 kg of cabbages. And paid it by cash.

According

to

the

section

of

IndianNegotiable

Insruments Act, 1881,A bill of exchange is an instrument in writing

conntaining an unconditional order, signed by the maker, directing a
certain person to pay a certain sum of money only to, or to the
order of, a certain person to the bearer of the instrument.
On 4 May 2016, PT. Gesunde Medicalindo Persada sold
production of medical equipments which cost Rp 50.000.000,00 to
PT. Graha Ismaya signed the wessel which had 85 days period in
itand 10% interest per year.

A written order for the payment of a sum to a named

individual obtainable and payable at a post office.
My mom have debt to dr. Thomas and she pay it $ 15
per month installmently. To do the payment, she used Postal Money
Order.

is a document that orders a bank to pay a specific

amount of money from a person's account to the person in whose
name the cheque has been issued.
PT TOSHIBA bought 10 units of orange squeezer
machine from Vietnam for their production machine that costs Rp
5.000.000 per unit. PT TOSHIBA paid with a cheque.

The parts of a check, with a number next to each part. Use this diagram
to understand what each part is used for.

a.
b.
c.
d.
e.
f.
g.
h.
i.

Date line
Personal information about you , the account owner
Payee line. Who the check is payable to
The amount of your check written out using words instead of numbers
The dollar box. The amount of the check in numerical format
Your banks contact information and / or logo
Memo line for an unofficial note
Signature line
Your account number at your bank

A debit card (also known as a bank card or check

card) is a plastic payment card that provides cardholders electronic
access to their bank account(s) at a financial institution.
Nina is a college student in Politeknik Negeri Medan.
On every early phase of semester, he pays his tuition fee by
transfering it using atm to Politeknik Negeri Medans account.

A credit card is a payment card issued to users

(cardholders) as a method of payment. It allows the cardholder to
pay for goods and services based on the holder's promise to pay for
them.
In a shopping centre, there is a woman wants to buy
bag. She forgot to bring his cash, but fortunately she has a credit
card inside his wallet. So, she use it as the payment method.

Cash On Delivery ( COD ) is a type of transaction in

which the recipient makes payment for a good at the time of
delivery. If the purchaser does not make payment when the good is
delivered, then the good is returned to the seller. The recipient can
make payment by cash, certified check or money order, depending
on what is the shipping contract stipulates.

Tita is a beautiful girl from Indonesia, wanted to buy a

pair of shoes on online shop. And then, she sent an email to the
online shop to make a deal about the goods and the price. After the
deal has been struck, both party agreed to meet somewhere to
finish the transaction.

An advance payment, or simply an advance, is the

part of a contractually due sum that is paid or received in advance
for goods or services, while the balance included in the invoice will
only follow the delivery.

Dimas was passed in Politeknik Negeri Medan in

majoring of accountant and plan to renting a house which located
on around the campus. After a long search for, he was finding a
suitable home with a fairly cheap price, its about Rp 4.800.000 for
one year. He agreed to rent the house and pay the rent for one year.

Letter of credit is a document issued by a third party

that guarantees payment for goods or services when the seller
provides acceptable documentation. Letter of credit are usually
issued by banks or other financial institutions, but some credit
worthy financial services companies, like insurance companies or
mutual funds, might issue letters of credit under certain
circumstances.
Indonesian exported 480 kg of rice to USA which cost
Rp 12.000 per kg and use L/C as the payment method that has been
agreed on both party.

1. U.S DOLLARS Enter the entire amount to be collected; if not in U.S

dollars, specify currency.
2. DATE Enter the date of the Draft is issued.
3. OF THIS FIRST EXCHANGE (SECOND UNPAID) Enter the terms of
payment (also called the Tenor of the draft): at 45 days, at sight, at 30 days
B/L, etc. Second Unpaid refers to the duplicate copy of the draft (OF THIS
SECOND EXCHANGE, FIRST UNPAID); once payment has been made against
either copy, the other becomes void.
4. PAY TO THE ORDER OF Enter the name of the party to be paid (Seller,
Payee); this may be the seller of the Sellers bank, and will be the party to
whom the foreign Buyers bank will remit payment.
5. UNITED STATES DOLLARS Enter the amount from Field 1 in words; if
payment is not to be made in U.S Dollars, block out United States Dollar
and enter correct currency.
6. CHARGE TO ACCOUNT OF Enter the name and addres of the paying
party (Buyer, Drawee). For Letter of Credit payments, enter the name and
addres of the buyers opening bank as well as the L/C number and issue
date.

7. NUMBER Enter an indetification, or Draft, number, as assigned by the

Seller to
reference the transaction
8. AUTHORIZED SIGNATURE The signature of the authorized individual for
the Seller
or the sellers agents (Drawer)
9. FORWARD DRAFT TO Enter the name and address to whom the Draft is
being sent.
Unless this is a letter of credit being negotiated in the U.S, this
should be the name and
address of foreign bank.
10. FORWARDING DATE Enter the date the Draft is being sent to the bank
in Field 9.
11. DRAFT NUMBER Enter the Sellers Draft number, as noted in Field 7
above.
12. PURPOSE OF DRAFT Check the applicable box if the draft is part of
letter of credit negotiation, a collection, or an acceptance.
13. LIST OF DOCUMENTS Enter the number and type of each original and
duplicate
document to be included with this Transmittal Letter. Any
doscument attached will
eventually be released to the Buyer.
14. DELIVER ALL DOCUMENTS Check either Deliver all document in one
mailing or
Deliver documents in two mailings. Generally, documents are delivered
in one
mailing.
15. DELIVER DOCUMENTS AGAINST Ensure that the type of Draft
attached (Block 3) is
compatible with the deliver against instructions. Sight Draft should
accompany Deliver against Payment instructions, while Time Draft
should accompany Deliver against Acceptance instructions.
16. BANK CHARGERS The correspondent bank will not pay unless all
chargers are collected. Based on your agreement with the Buyer, indicate
which party is responsible for both the remmitting and presenting banks
charges. By checking all chargers for Account of Drawee, the Buyer is
responsible for these charges; if the Buyer does not pay (or is not to pay)
these charges, and id Do Not Waive Charges has not been checked, the
Seller will be billed for expenses incurred.

17. PROTEST Check Protest (specify for non payment or for nonacceptance, depending on the type of draft atthached- see instruction,
Field 15) if you wish the correspondent bank to process written, notarized
documentation in event that the Buyer refuses to pay or accept the Draft.

Addtional Bank expenses associated with a protest are usually charged to

the Seller.
18. PRESENT ON ARRIVAL Check if you wish the Draft to be presented on
the arrival of the goods to the buyer.
19. ADVISE Check the appropriate blocks, and block-out the non-applicable
terms, if you wish to be advised of payment/acceptance or non-payment
or non-payment/non-acceptance.
20. IN CASE OF NEED Enter the representative of the Seller in the country
to which the Draft and documents are going, if one exists; check the block
which describes the representatives authority.
21. OTHER INSTRUCTIONS Enter any instruction to either the remitting or
correspodent banks, such as remittance instructions, clarification of
protest procedures, multiple-draft insructions, etc.
22. REFER ALL QUESTIONS Enter the name the contact, and his/her
address and telephone number, in the Sellers country; specify if this
contact is employed by the Shipper (Seller) or the Sellers agent (Freight
Forwarder).
23. AUTHORIZATION Enter the person authorized to sign the Transmittal
Letter (see field 8 above), the date prepared, and the authorized persons
signature.

http://www.merriam-webster.com/dictionary/payment on Saturday at 07:15 a.m

http://www.merriam-webster.com/dictionary/method on Saturday at 07: 18 p.m
http://www.businessdictionary.com/definition/paymentmethod.html#ixzz49BOfpjwr on Saturday at 07:20 p.m
https://en.wikipedia.org/wiki/Credit_card on Saturday 07:22 a.m

Merriam-Websters Learners Dictionary on Saturday at 07:24 a.m

https://en.wikipedia.org/wiki/Debit_card on Saturday at 07:26 a.m
https://en.wikipedia.org/wiki/Cheque on Saturday at 07:28 a.m
https://indiankanoon.org/doc/1132672/ on Saturday at 07:30 a.m
http://study.com/academy/lesson/what-is-a-letter-of-credit-definition-typesexample.html on Saturday at 07:40 a.m
https://www.vocabulary.com/dictionary/postal%20order on Saturday at 07:45 a.m
http://kalyan-city.blogspot.co.id/2011/04/different-modes-of-payment-whatare.html on Saturday at 07:48 a.m
http://www.investopedia.com/terms/a/advance-payment.asp#ixzz49Gqw3YJ4 on
Saturday at 07:50 a.m
http://www.investopedia.com/terms/c/cashondelivery.asp?
layout=infini&v=5A&orig=1&adtest=5A on Saturday at 07:55 a.m
http://www.thefreedictionary.com/postal+order on Saturday at 08:05 a.m
https://en.wikipedia.org/wiki/Advance_payment on Saturday at 08:10 a.m