An Indian Exporter, X and a Chinese Importer M have signed a Commercial Contract to trade in iron ore. The credit period involved in the sale is 90 days from date of shipment. Since the exporter and importer are dealing with each other for the first time, they are looking for an international trading system wherein neither the importer is exposed to the risk of not receiving the title documents of the shipment nor the exporter are exposed to the risk of not receiving the payment after having sent the title documents. Please advise a system of payment for international trade which will be suitable to both parties. Please list the advantages and disadvantages of the proposed system for both the importer and the exporter.