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International Guarantees

 

The success of cross-border transactions may be undermined by a number of factors and unforeseen circumstances. In order to secure their investment, the parties to an international trade contract often seek guarantees that serve as a contingency mechanism to sidestep unpleasant surprises.

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Import & Export Financing

 

 

International trade is oftentimes burdened with significant costs associated with freight, insurance, cross-border payments and foreign exchange, to name a few. Commonly, these costs increase exponentially when factoring in tariffs, import duties, incoterms, not to mention shipment and customs delays, warehouse fees and miscellaneous complications. Many multinational enterprises do not have a full-fledged finance department but rather

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Factoring

 

Factoring, also known as Receivables Finance or Invoice Discounting, is a payment mechanism whereby the Exporter sells their receivables (outstanding invoices) at a discount to a bank or other finance provider (the “Factor”). As a result, the Factor becomes the owner of the underlying receivables and takes on the risk of collecting the payment from the Importer. Therefore, the Importer needs to settle the payment directly with the Factor, not the Exporter.

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Documentary Remittances

 

Documentary Remittances or Collections are regulated by the ICC Uniform Rules for Collections (URC), publication No. 522. Much like documentary credits, documentary remittances are trade finance instruments, whereby the exporter entrusts their bank with the collection of payment for goods supplied. The exporter’s bank (also known as remitting bank) sends the shipping documents – air waybill, bill of lading, commercial invoice,

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Documentary Credit

 

Documentary credits or, as they are often referred to as Letters of Credit (or L/C), are commonly used in international trade when the parties are not familiar with each other and prefer to commence their business relationship cautiously: the exporter may be reluctant to send goods to the importer without being sure that payment will be made, conversely the importer may not want to pay for the goods unless they are sure that goods will be shipped.

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