The Handbook of International Trade and Finance: The by Anders Grath

By Anders Grath

Intended to be used by way of the exporter taken with overseas revenues, finance, delivery, and management, or for these learning for educational or expert skills in overseas alternate, The instruction manual of overseas exchange and Finance presents an entire clarification of the most important finance parts of overseas alternate – together with hazard administration, overseas funds and forex administration. even as, it presents the basic details essential to aid lessen dangers and enhance funds flow.
 
This fourth variation additionally describes the negotiating method from the viewpoint of either the client and the vendor and covers exchange dangers and threat review, dependent alternate finance, equipment and phrases of check, forex probability administration and bonds, and standby letters of credits. It additionally has new examples, revised and up-to-date laws from the foreign Chamber of trade, and up-to-date references and statistics.

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Extra info for The Handbook of International Trade and Finance: The Complete Guide for International Sales, Finance, Shipping and Administration

Example text

In reality, there are many different variations and alternatives that will affect the order of such a listing; for example, if the open account is supported by a guarantee, a standby L/C or separate credit insurance, or how a barter or counter-trade is structured. Even the nature and wording of the letter of credit will eventually determine what level of security it offers the seller. Seen from a more practical point of view of how the payment is actually executed, and the involvement of the commercial parties and the banks, there are, in principle, only four basic methods of payment that are used today in connection with monetary settlement of international trade (apart from e-commerce and barter and counter-trade transactions, which are described later on in this chapter).

Purchasing, production and shipment all place a fin­ancial 31 32 The Handbook of International Trade and Finance burden on the transaction that forces the seller to determine how alternative terms of payment would affect liquidity during its different phases until payment – and how this should be financed. And, if the deal is not settled as intended, an additional financial risk occurs. When using subcontractors, who do not share the risks of the transaction and are paid according to separate agreements, the risk increases accordingly and even more so should the seller have to offer a supplier credit for a shorter or longer period.

This person might have additional information and can contact and get support from their opposite number at the buyer, who is not normally the person responsible for payments and may be totally unaware of the delay. Above all, the seller should not let the matter linger too long. If the buyer has financial problems, the seller will often learn about it once it has become common knowledge among local business partners, who will then be the first to press for payment. The buyer might also be more dependent on them than on a foreign supplier for ongoing business, and might act accordingly in their payment priorities.

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