The Creator of the innovative Export Master® program

How do I make sure to get paid in the foreign country?

There are different payment methods and different cultural practices that guide when and how payments are made.  The range is from payment in advance to sending products on consignment. The first very safe, and consignment gives very little security.  You can also provide open credit, factoring, Cash Against Document, Documents against Acceptance, Letter of Credit and different types of bank guarantees. There are many banks and government programs that can insure your payments. You have to select what is most appropriate for the client and country. Note, however, that a very secure payment may be good for you but could limit your distributor’s expansion (reducing their cash flow). You have to evaluate which best suits each. Don’t assume you can use the same method, in a new country as at home. Investigate what is used in that specific country.