On: November 5, 2018 By: Roy Becker
There are many reasons why you may want to use a letter of credit to get paid for your export shipments. But Letters of credit can be complicated. It's important to know what you're doing to avoid delays and other frustrations. Here are 8 tips from an expert on getting paid with a letter of credit.
On: October 15, 2018 By: Chris Lidberg
Of the four primary export payment options—cash in advance, open account, letters of credit, and collections—you can only forecast when you might receive payment with two of them: cash in advance and letters of credit. Payment under collections and open account is at the discretion of the buyer.
On: October 1, 2018 By: Roy Becker
A documentary collection works well for many exports and provides a measure of security for both importers and exporters. It is simple, fast and less costly than a letter of credit. This article explains the typically seven-step transaction flow with a documentary collection and the potential risks.
On: September 17, 2018 By: Joseph A. Robinson
Exporters often think of chambers of commerce only in terms of signing certificates of origin. But there are other services and programs that chambers of commerce provide. Business savvy managers utilize chambers to help increase the efficiency and effectiveness of their international business.
On: September 4, 2018 By: Roy Becker
If you are relying on a letter of credit to get paid for your export, there are two important expiration dates included in the LC that you must be aware of: (1) the expiration date, and (2) the presentation period, which is the window of time in which the exporter must present documents.
On: August 20, 2018 By: Joseph A. Robinson
While it's easier than ever to reach potential export customers, you should create a MAP -- a Marketing Action Plan -- to really grow export sales and profits. Fortunately, creating an export MAP doesn’t have to be difficult or expensive.
On: August 13, 2018 By: John Goodrich
Classifying your products for importing and exporting requires expertise in the properties of your products and the government rules of interpretation. Properly classifying your products can save your company a significant amount of money while helping prevent trade compliance violations.
On: August 6, 2018 By: Roy Becker
Make sure your export documents conform to the terms outlined in your letter of credit. Learn these three important letter of credit lessons to avoid a potential export disaster.
On: July 23, 2018 By: Hank Selby
Importers and exporters must accurately classify their products for customs. Here are strategies for finding the proper Harmonized Tariff Schedule (HTS) or Schedule B codes for your products.
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