Our Export Practice Publications detail potential risks and barriers to trade that can face businesses seeking to export to new markets, and provides practical tips and guidance on overcoming them.
When leaving the familiar territory of your domestic market for the unknown quantity of export trade, businesses understandably find that they face additional risks. Sometimes these present real barriers to successful sales. In our Export Practice suite of publications, we identify these risks and show you some ways to avoid them.
Export practice: Sales contracts in export business
Trading relationships can be enhanced by a strong contract. Poorly defined clauses or differing interpretations can cause parties to the contract to either hold or even default on payments. Sales contracts in export business outlines the key areas to consider when drawing up a contract for successful export business.
Letters of Credit
A Letter of Credit is a bank guarantee usually given to a seller to assure them they will be paid for their goods or services. It promises the bank will pay them in the event that the buyer is unable to settle the bill.
The bank that writes the Letter of Credit acts on behalf of the buyer and usually includes conditions that need to be met before payment will be made to the seller. These normally include a range of paperwork from the original contract, to bill of lading and proof of delivery.
Our Letters of Credit publication outlines how they work in more detail, as well as the different types that exist.