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Export financing

REGIONAL SMALL TALK

It's one thing to build an export base; it's another to get paid for the job. ADAM STEEN and VALENTINA TRIPP take a trip though the export financing minefield

SECURING PAYMENT FOR AN EXPORT can be fraught with danger. Many CPAs will never be involved in international trade transactions or may have infrequent involvement in them. Being aware of the potential risks and pitfalls is essential if profitable trade is to occur.

In an ideal world, an exporter would receive payment prior to the shipment of goods. This is seldom the case. Most transactions are settled by a letter of credit (LC), a document issued by a bank, usually on behalf of the importer. Essentially, it ...

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