For many companies, doing business overseas is the ultimate challenge. While the rewards can be substantial, success can also bring its share of problems. Different customs, currency issues, legal requirements, businesses, and practices still create barriers to trade, even with modern technology which allows you to place foreign orders within seconds.
One of the most significant problems facing exporters is the increasing insistence by importers that trade is conducted on open account terms. This often means that payment is received many weeks or even months after delivery. Unsurprisingly, many organizations find that giving buyers credit in this way can cause severe cash flow problems. Further problems can arise if the importer delays payment beyond originally agreed with terms. Worse, if the important make no payment at all due to financial failure.
Import & Export Factoring provides a simple commercial finance solution regardless of whether the exporter is a small organization or a significant corporation.