The best method of making payment to an overseas supplier is by/

The best method of making payment to an overseas supplier is by a letter of credit. This is a financial instrument issued by a bank on behalf of a buyer to guarantee payment to a seller. The bank acts as an intermediary between the buyer and seller, ensuring that the seller receives payment once they have fulfilled the terms of the agreement. This method is safe and secure for both the buyer and the seller as it guarantees payment for the seller and protects the buyer against non-delivery or non-performance by the seller. Other methods such as bankdraft, bill of exchange, travellers cheque, and certified cheque may also be used, but they are not as secure and reliable as a letter of credit.