Small businesses face similar challenges when trying to grow their business abroad and one of the most common challenges is ensuring the goods make it safely to their foreign destination. But, maintaining proper export documentation reduces the risk of having to pay big fines or having it blow up into a legal dispute. Another challenge is ensuring a small business gets paid from their foreign buyers; therefore, we created an export documentation checklist, alongside CC Solutions, that combines both challenges to ensure that small businesses are not missing the mark when it comes to protecting themselves.
The following is the breakdown of the checklist:
- Invoice Requirements
- Bill of Lading (BoL) Requirements
- Preventing Fraud
- Verifying Buyer Information
- Common Warning Signs
- EXIM Protection
- Single-Buyer Insurance
- Multi-Buyer Insurance
Using this checklist will ensure that your small business focuses on selling more internationally versus having to deal with documentation issues or fraud issues. In addition, EXIM Bank provides financing solutions including insurance to help exporters increase their foreign sales while mitigating the risk of foreign buyer nonpayment. Click here to speak to your local EXIM Rep:
