Cover Up! 3 Currency Risks Every Small Business Exporter Must Consider

September 20, 2016

When you ink the contract with that new buyer in a foreign country, who takes the currency risk? Should it be the buyer, the bank or you? The answer will depend on the currency of exchange, your account terms and the strength of your negotiating position. A strong dollar could mean you losing out on business unless you can extend credit terms and possibly financing. Maybe it’s a 50/50 split between you and the buyer. Possibly your product and the “Made in America” brand are just too good to resist and you can demand U.S. Dollars or another hard currency.
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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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Accurate DUNS information is critical to your business

August 04, 2016

Is Your Data Clean?  Keeping your D-U-N-S information updated is critical for your business.

The previous blog spoke to the need for establishing a credit file by registering a D-U-N-S with Dun & Bradstreet (D&B). 

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