Export financing refers to a technique in which a business sells its invoices to a financial intermediary and advances cash to the business. It is also known as invoice or account receivable financing, which is different from traditional bank loans in several aspects including: As there is no need for any collateral in export financing, …
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A surging U.S. economy on the back of massive stimulus and pent-up demand will benefit exporters in Asia, with Vietnam receiving the biggest windfall, according to Bloomberg Economics. If the U.S. growth rate accelerates to 7.7% in 2021 as forecast by Bloomberg Economics, up from the 3.5% seen late last year, that would add more …
Coming U.S. Economic Boom Seen Boosting Vietnam Most in Asia Read More »
The letter of credit (“L/C”) is an important tool for settlement of international trade transactions, however many Canadian businesses may be unfamiliar with this payment instrument and its benefits. The applicable rules for letters of credit (“L/Cs”) are the UCP 600 (Uniform Customs and Practice for Documentary Credits, ICC Publication No. 600), which apply to …
International payment – Letter of Credit support and assistance service Read More »
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trading block that represents 495 million people with a combined gross domestic product of CAD $13.5 trillion – a full 13.5% of global GDP. Through the CPTPP, Canada now has preferential access to some of the world’s most dynamic and fast-growing markets, which will …
It’s easy to feel hesitant about exporting given the impacts of COVID-19 and the rising tides of economic protectionism. But diversifying your markets remains one of the best ways to make your business resilient and ready to grow. Canadian companies that build a multinational presence through trade and diversification are more profitable, more stable and …
Boost your business’ resilience by diversifying your markets Read More »
Vietnam is rising as a fast-growing e-commerce market, marked by strong mobile commerce, increasing foreign investments, a favorable regulatory environment, and enhanced internet access. The country may be less developed than many other e-commerce markets, but it is expanding rapidly, supported by a generation of digital natives starting to earn and spend money. According to …
Incoterms are internationally accepted definitions for the most common terms used in contracts for the sale of goods. Incoterms 2020 came into force on Jan. 1, 2020, superseding the earlier Incoterms 2010. What are Incoterms? Incoterms are formal terms used in most international sales contracts to reduce the logistical risks of doing business internationally. These three-letter acronyms mean the …
Exporting made safer: Managing risk with Incoterms® 2020 Read More »
To succeed in today’s global marketplace and win sales against foreign competitors, exporters must offer their customers attractive sales terms supported by the appropriate payment methods. Because getting paid in full and on time is the ultimate goal for each export sale, an appropriate payment method must be chosen carefully to minimize the payment risk …
The outlook for Vietnam looks positive and its economy has “huge potential” according to UBS Global Wealth Management. Read More » Vietnam was one of Asia’s top-performing economies in 2020 and among the few countries that managed to record growth last year despite the coronavirus pandemic. Read More » (Source: CNBC)