On: August 12, 2019 By: Catherine J. Petersen
A letter of credit does guarantee payment. There are terms and conditions to be met including deadlines whether they are explicitly stated in the letter of credit or implied under the UCP 600. If shipping delays make it difficult to meet those deadlines, consider some alternatives.
On: July 22, 2019 By: David Noah
There are five common payment options used for exports. Cash in advance favors the seller since the exporter gets paid before the buyer receives the goods. But that makes it the least attractive option for the buyer, who may not accept it, especially if they have other vendors to choose from.
On: July 8, 2019 By: Joseph A. Robinson
When responding to an international sales inquiry, there are three critical components of the an export sales proposal, quote or proforma invoice with which you respond: validity, acceptance and price. These details set the stage for export success.
On: June 17, 2019 By: David Noah
International trade includes a spectrum of risk, which causes uncertainty over the timing of payments between the exporter (seller) and importer (foreign buyer). Therefore, part of the sales negotiation is identifying which of the five common international payment options you are going to use.
On: June 12, 2019 By: David Noah
Exporting is a journey, but not one you'd ever want to take alone. That's why we've identified more than 20 different resources you can utilize as you guide your company through the export process, from product and market research to getting paid for your goods on time.
On: June 10, 2019 By: Catherine J. Petersen
What is the future of international logistics in the face of A.P. Moeller-Maersk’s and CGA CGM Group's approach to integrated services along with the widely available technology we employ in standard business transactions? Will the benefits be wide spread or help only the largest shippers?
On: June 5, 2019 By: David Noah
Getting your goods through customs can be difficult if you don't know a country's import requirements. Requirements extend to shipping (hazmat, dangerous goods, routing, etc.), customs, and beyond. So how do you identify import country requirements for nearly 200 countries around the world?
On: May 20, 2019 By: Chris Lidberg
Too often sellers don’t give much thought to the actual terms and conditions in their letters of credit. This is a mistake, since it can cause all sorts of problems including granting buyers access to their goods before you even get paid.
On: April 29, 2019 By: Chris Lidberg
One of the reasons a company uses letters of credit (LC) is because they assure payment. But in order for payment to be received, your documents must comply with the terms of the LC. In order to meet that requirement, you need to carefully review it before you ship your goods. Here's what to look for.
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