(1ST SLIDE)

SECTION 415. Mode of Payment and Terms of Trade.— Subject to existing laws and rules
on foreign currency exchange, the internationally accepted standards and practices on the
mode of payment or remittance covering import and export transactions, including
standards developed by international trading bodies such as the International Chamber of
Commerce (ICC) on trading terms (incoterms) and on international letters of credit such as
the Uniform Customs and Practice for Documentary Credits (UCPDC), shall he recognized.

(2ND SLIDE)

MODES OF PAYMENT IN INTERNATIONAL TRADE

 Open Account
 Advance Payment
 Documentary Collection
 Documentary Credit

(3ND SLIDE)
(8TH SLIDE)

SECTION 416. Examination of Samples.— Customs officers shall see to it that

representative samples taken during examination shall be properly receipted for and
retained within a reasonable period of time. The quantity and value of the samples taken
shall be noted in the specified box of goods declaration or electronic form. Such samples
shall be duly labeled as will definitely identify them with the importation for which they are
taken.