Import/Export: Getting Paid for Your Exports

Course Overview

Securing payment for exported goods often involves risk. This course identifies and evaluates the main payment methods used in international trade. It provides the opportunity for delegates to examine sensible credit management and collection mechanisms to reduce the risk of not getting paid.

Audience

Those who need to understand, or make decisions on, appropriate methods and terms of payment when exporting.

Skills Gained

By the end of this course you will be able to:

• Identify the four standard methods of payment used by international traders.
• Employ quick and simple mechanisms for assessing buyer and market risk.
• Use current statistical data to compare their company''s methods and terms of payment against the average exporter.
• Evaluate the risk of non-collection and mechanisms available to improve collection of international debts.

Course Outline

Payment Methods

• The four main payment methods
• Open account
• Cash in advance
• Documentary collections
• Documentary letters of credit
• Evaluate the advantages and disadvantages
• Know the costs involved
• Understand the abbreviations and terminology and their meaning

Assessing Risk

• Understand the financial risks of exporting
• Consider techniques for assessing country/market risk
• Understand how to assess buyer risk
• Sources of information

Credit Management Practice

• Examine current practice in giving export credit
• Compare your company''s terms against the average exporter
• Understand the statistical data available to assess your practices
• How to monitor credit periods
• Analyse successful overseas debt collection techniques
• Evaluate the risk of non-payment

Commercial Benefits

• Learn to choose the most appropriate payment method and terms of payment
• Be able to chose the appropriate credit management practices
• Improve collections by employing good practice techniques
• Be equipped to quote in the most competitive way
• Protect your company from risk
• See how to use your bank to best effect

Import/Export: Getting Paid for Your Exports / GPEX