Export

Issue No. 42 - August/September 2008

Trust your product

SA has many successful companies exporting products and services to the world but many don’t know their own strength when it comes to negotiating payment terms.

An export deal can be a major coup, but some businesses feel uncomfortable about negotiating payment terms for fear of offending their new customers. Don’t be afraid to ask for secure payment terms that suit you.

This might include stipulating cash up front or seeking a letter of credit from new buyers. A letter of credit from your buyer’s bank is a guarantee of payment if all terms and conditions are met.

Many overseas companies have good balance sheets and can afford to pay for goods up-front. You’ll never know unless you ask, so have faith in the strength of your product.

When entering new export markets:

Do your homework. Find out where your potential markets are and learn about their culture, religion, geography and anything else that impact on your product. Can you deliver your pro...

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