Risk Management 101: Obtaining a Foreign Buyer Credit Report

August 30, 2016

Gabriel Ojeda, President of Fitz-Pak Corporation and an EXIM Bank advisory board member, was recently asked in one of our EXIM Bank Going Global Webinars, “What is the number one piece of advice you can give to companies that are looking to export? Without pause Mr. Ojeda answered, “knowing your market, the type of buyer you are selling to, i.e,. whether they are end-users, consumers or industrials and getting to know all about your buyer and their culture.”As a small business owner you might appreciate getting to know their culture, and the export licensing requirements for your products end-use, but we’ll save that for another blog. Your first concern is always how you’re going to get paid. Offering open account credit terms requires significant due diligence on your part to properly address the risk of buyer nonpayment and is an important first step in establishing trust.

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