For many companies doing business internationally is the ultimate challenge. While the rewards can be substantial, success can also bring its share of problems. Different customs, currency issues, legal requirements and differing businesses and practices still create barriers to trade in a world where sophisticated computer technology allows foreign orders to be placed within seconds.
One of the greatest problems facing exporters is the increasing insistence by importers that trade is conducted on open account terms. This often means that payment is received many weeks or even months after delivery. Unsurprisingly, many organisations find that giving buyers credit in this way can cause severe cash flow problems. Further problems can arise if the importer delays payment beyond originally agreed terms or makes no payment at all because of financial failure.
Export Factoring provides a simple commercial finance solution regardless of whether the exporter is a small organisation or a major corporation.
As part of the Factors Chain International Group (FCI) we work through one of our associate companies based in the country of the debtor, (in many cases this will be one of our own offices within ACF Group). This relationship enables us to overcome the many potential cultural, language and currency issues in one go.
Via our international partners we will also provide local credit checks on you customers and we can take responsibility for non payment thus relieving you from the problems of bad debts. Our international payments system also means that when customers do pay you quickly get the benefit.