Getting paid for exports: a guide to more profitable management of export credit and finance
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Aldershot u.a.
Gower
1990
|
| Edition: | 2. ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XV, 361 S. graph. Darst. |
| ISBN: | 0566027402 |
Staff View
MARC
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| 245 | 1 | 0 | |a Getting paid for exports |b a guide to more profitable management of export credit and finance |
| 250 | |a 2. ed. | ||
| 264 | 1 | |a Aldershot u.a. |b Gower |c 1990 | |
| 300 | |a XV, 361 S. |b graph. Darst. | ||
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Record in the Search Index
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|---|---|
| adam_text | Contents
Illustrations xi
Checklists xiii
Foreword xiv
1 Some Introductory Thoughts 1
2 Export Credit Policy 4
The need for a planned approach 4
The role of top management 6
Factors affecting Export Credit policy 6
Return on investment 11
Planning receivables 14
Targeting collection of funds 18
Measuring performance and reporting results 21
Exception reports for action 25
Cash collection monitors 27
The different policies of small and large exporters 28
Small firms 33
CHECKLIST: EXPORT CREDIT POLICY POINTS 37
Large firms with few exports 38
Large exporters 40
checklist: general points for export
Credit Policy 42
Conditions of sale 43
Agents, distributors, subsidiaries 52
3 Export Documents 54
Introduction 54
Invoices 55
Transport Documents 58
Bill of Lading 58
Air Waybill 62
Rail and Road Consignment Notes 62
Parcel Post Receipt 62
v
Insurance Policies and Certificates 64
Certificates 68
Certificate of Origin 68
Blacklist Certificate 68
Packing List/Specification 68
Inspection Certificate 68
Single Administrative Document (SAD) 68
The Bill of Exchange 70
Letters of Credit 72
checklist: export documents 76
4 Export Credit Risks 77
An overview of risks and their management 77
Credit risks a full list 80
Collecting credit information 81
CHECKLIST: SOURCES OF INFORMATION 82
Customer information 82
CHECKLIST: USING CREDIT REPORTING AGENCIES 86
Country Information 91
CHECKLIST: OBTAINING CREDIT INFORMATION 96
Using information to assess credit risks 96
CHECKLIST: MANAGING COUNTRY RISKS 98
Risk codes and credit ratings 102
Reducing insolvency losses and reserves 104
Indirect or contingency risks 106
5 Payment Terms 108
Influences on terms 108
Short Term Credit : methods of settlement and credit periods 110
Payment terms considerations for the credit manager 111
Cash with order 111
COD 111
Documentary Letters of Credit 112
Bills of Exchange Sight and Term Drafts 114
Cash against Documents 116
Open Account 117
Consignment Account 117
Medium Term Credit 118
Countertrade 120
Performance Bonds and Guarantees 122
Payment terms in various countries 126
Usual payment terms in 65 countries (Figure 5.4) 128
CHECKLIST: TO IMPROVE CREDIT TERMS 130
vi
6 International Transfers Of Funds 131
Float time 131
The international bank situation some problems 132
Transmission methods 134
Documentary Letters oj Credit 135
Documentary Bank Collections 144
Clean Collections 150
Open Account Payments originated by customers
(cheque, Mail Transferor Telegraphic Transfer) 151
SWIFT the system for the future 155
checklist: speeding the flow of open
Account Receipts 156
7 Collection Of Export Proceeds 159
The factors requiring specialist attention 159
Export Sales Ledger and Bills Receivable system 165
CHECKLIST: SALES LEDGER RECOMMENDATIONS 173
Documentation controls 173
Use of the banking system 178
CHECKLIST: ACTION ON OVERDUE DRAFTS 181
Interest charges 181
Protest of bills 183
CHECKLIST: ACTION ON OVERDUE DRAFTS 180
Collection tools 184
Order Acknowledgement 184
Invoice 185
Statement of Account 185
Drafts and special clauses 186
Letters 187
Telexes and cables 188
Telephone 189
Personal visits 190
Follow up systems 191
Involvement of sales staff 192
Use of agents and associates 193
Use of external collection agents 194
Legal action 195
Factoring 196
Exchange controls abroad 196
CHECKLIST: TO IMPROVE EXPORT COLLECTIONS 199
8 Export Credit Insurance 200
The case for insuring export debts 200
The providers of insurance cover 201
vii
Types of credit risk 202
ECGD its purposes and services 203
How is ECGD constituted? 203
What does it do? 203
What kind of policies does ECGD issue? 204
Comprehensive Short Term Guarantee 205
Supplemental Extended Terms Guarantee 210
Subsidiaries Guarantee 210
Supplementary Stocks Guarantee 211
Specific Guarantee medium term credit 211
Constructional Works Guarantee 212
Services Policies 213
Bond support cover 214
Unfair Calling of Bonds cover 215
Tender to Contract cover 215
Guarantees to banks for export finance (Specific Bank
Guarantees, Buyer Credits, Lines of Credit, FINCOBE, ABE) 216
Managed ECGD policies 220
The private market of credit insurance 221
Reasons for using non governmental sources 221
Who are the private market insurers? 222
Trade Indemnity pic 222
Panfinancial Insurance Co Ltd 223
American International Underwriters (UK) Ltd 223
Lloyd s of London 224
Black Sea and Baltic 224
Assurances de Credit (Namur) 224
Credit and Guarantee Insurance Co Ltd 224
International organizations 225
Use of credit insurance brokers 226
9 Finance For Exports 229
Overview the lazy overdraft v. alternatives 229
The recent evolution of UK export finance 229
Credit management and export finance 231
Why special finance is necessary 232
The choice available 234
Who should manage export finance? 236
Short term finance 238
Overdrafts 238
Advances against bills 238
Negotiation of bills 239
Clean Acceptance Credits 239
Confirming Houses 241
viii
Factoring 241
Exfinco 244
Trade finance from clearing banks 244
Forfaiting 246
Medium term finance 246
ECGD Specific Bank Guarantee 247
ECGD Comprehensive Extended Terms Bankers Guarantee 248
Buyer Credits 248
Lines of Credit 250
Forfaiting 251
Leasing 252
Foreign Currency Finance 253
Loans in advance of short time receipts 254
Eurocurrency loans 254
Large Project loans 255
International Aid 256
World Bank 256
European Development Fund 257
Other EC aid 258
Arab development agencies 258
Other development banks 258
Bilateral schemes 259
Information on aid 259
10 Foreign Currency 260
Overview of currency situations 260
Risks in foreign exchange 262
The Foreign Exchange market 263
Foreign Exchange terminology 266
How the exchange rate is established 269
Bank quotations 270
Forward rates and future actual rates 273
Eurocurrencies, the EMS and the ECU 274
Marketing aspects of currency v. sterling 277
Pricing and invoicing 280
Currency and Tender Bids 283
CHECKLIST: HEDGING AGAINST CURRENCY LOSSES 284
Glossary of Foreign Exchange terms 284
11 Training In Export Credit And Finance 286
Overview the need for expert staff 286
In house training 287
Sales/credit collaboration 290
Industry credit meetings 291
ix
Export forums 291
Seminars, conferences and courses 292
Books 294
Correspondence courses and examinations 296
12 Useful Information And Sources 299
External organizations 299
Institute of Credit Management 299
FCIB 300
Institute of Export 300
DTI 301
BOTB 301
SITPRO 303
ICC 303
UK and foreign banks 304
Reference data 305
Glossary of export terms 305
Business vocabulary in English, German and French 314
Foreign balance sheet terms and English equivalents 320
Foreign company structures and financial accounts 324
Foreign chambers of commerce in London 328
Foreign embassies in London 331
Major international organizations 333
Foreign travel data 336
Economic aid groups 342
Useful publications 345
APPENDIX: ICM Guide to Export Terms and Information 348
Index 357
X
Illustrations
2.1 How to Measure When Overdues Cancel Profit 13
2.2 The Cost of Financing Credit Taken as a Flat Percentage
of Sales Value 13
2.3 Extra Sales Needed to Recover Bad Debt Losses 14
2.4 Key Stages for Budgeting Receivables 14
2.5 Sample of a Healthy Information Tree 22
2.6 A Typical Front Page of a Monthly Report 25
2.7 Export Receivables Data Sheet 26
2.8 Export Collections Progress Sheet 28
2.9 Example of a Cash Graph 29
2.10 A Sample Agenda of a Monthly Export Credit Meeting 34
2.11 Procedure for an Objective Policy Study 39
2.12 Export Credit Manager s Job Description 41
3.1 Commercial Invoice 57
3.2 Bill of Lading 60
3.3 Air Waybill 63
3.4 Certificate of Insurance 65
3.5 Arab British Chamber of Commerce Certificate of Origin 66
3.6 EC Certificate of Origin 67
3.7 Inspection Certificate 69
3.8 Bill Instruction Form 71
3.9 Sight Draft 73
3.10 Term Draft 73
3.11 Accepted Term Draft 73
4.1 Credit Checking: Orders and Shipments 104
5.1 Examples of Payment Terms on a Medium Term Contract 119
5.2 Specimen Tender Bond 124
5.3 Specimen Performance Bond with Arbitration Clause 125
5.4 Usual Payment Terms in 65 Countries 128
xi
6.1 Key Stages in a L/C Transaction 137
6.2 Form to Send Customer Opening L/Cs 139
6.3 Key Stages in a Documentary Collection Procedure 144
6.4 Collection Instruction to Bank 146
6.5 Bank Advice of Paid Bill 148
6.6 Bank Advice of Unpaid Bill 149
7.1 Handwritten Sales Ledger Page 167
7.2 Handwritten Bills Receivable Ledger Page 168
7.3 Machine posted Sales Ledger Account 169
7.4 Computer produced Open Item Statement 171
7.5 Some Collection Agencies Handling Foreign Debts 194
8.1 Types of loss covered by ECGD 207
8.2 Guide to Establishing a Single Project Buyer Credit 219
8.3 International Consensus Guidelines 226
8.4 Members of the UK Credit Insurance Brokers Committee 227
9.1 Finance for Export Sales Initial Decision Path 235
9.2 The Major UK Factoring Companies 243
10.0 World Value of the Pound 264
10.2 Foreign Currency Rates v. Sterling 267
10.3 Other Currencies v. Sterling 268
10.4 Major Currency Cross Rates 269
10.5 Interest Rates for Eurocurrencies 275
10.6 EMS Currency Unit Rates 276
10.7 Two Examples of Benefiting from Currency Premiums 282
11.1 Suggested Contents of an Export Credit Manual 288
12.1 Time Zones on a World Map 337
12.2 Times in Foreign Cities when Noon in London 338
12.3 Distance between Principal Airports 339
12.4 A Formula for Jet Lag 340
12.5 Key Data on 40 Frequently Visited Countries 341
xii
Checklists
Export Credit Policy Points 37
General Points for Export Credit Policy 42
Export Documents 54
Sources of Information 82
Using Credit Reporting Agencies 86
Obtaining Credit Information 96
Managing Country Risks 98
To Improve Credit Terms 130
Speeding the Flow to Open Account Receipts 156
Sales Ledger Recommendations 173
Action on Overdue Drafts 181
Protest Action on Drafts 184
To Improve Export Collections 199
Hedging Against Currency Losses 284
Bonds and Guarantees 355
xiii
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| indexdate | 2024-07-09T16:10:55Z |
| institution | BVB |
| isbn | 0566027402 |
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| physical | XV, 361 S. graph. Darst. |
| publishDate | 1990 |
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| spelling | Edwards, Burt Verfasser aut Getting paid for exports a guide to more profitable management of export credit and finance 2. ed. Aldershot u.a. Gower 1990 XV, 361 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Export credit Exportkredit (DE-588)4153392-6 gnd rswk-swf Exportfinanzierung (DE-588)4016027-0 gnd rswk-swf Großbritannien (DE-588)4022153-2 gnd rswk-swf Großbritannien (DE-588)4022153-2 g Exportkredit (DE-588)4153392-6 s Exportfinanzierung (DE-588)4016027-0 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002664661&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Edwards, Burt Getting paid for exports a guide to more profitable management of export credit and finance Export credit Exportkredit (DE-588)4153392-6 gnd Exportfinanzierung (DE-588)4016027-0 gnd |
| subject_GND | (DE-588)4153392-6 (DE-588)4016027-0 (DE-588)4022153-2 |
| title | Getting paid for exports a guide to more profitable management of export credit and finance |
| title_auth | Getting paid for exports a guide to more profitable management of export credit and finance |
| title_exact_search | Getting paid for exports a guide to more profitable management of export credit and finance |
| title_full | Getting paid for exports a guide to more profitable management of export credit and finance |
| title_fullStr | Getting paid for exports a guide to more profitable management of export credit and finance |
| title_full_unstemmed | Getting paid for exports a guide to more profitable management of export credit and finance |
| title_short | Getting paid for exports |
| title_sort | getting paid for exports a guide to more profitable management of export credit and finance |
| title_sub | a guide to more profitable management of export credit and finance |
| topic | Export credit Exportkredit (DE-588)4153392-6 gnd Exportfinanzierung (DE-588)4016027-0 gnd |
| topic_facet | Export credit Exportkredit Exportfinanzierung Großbritannien |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002664661&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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