Companies selling internationally have a number of unique decisions to make before shipping an order. The first of these will be based on an analysis regarding the country in which a seller is planning to do business. Once the country risk is understood, a credit decision can then be made on the customer placing the order. Consideration should be given to how the shipment will be billed and financed.
The simplest way of extending credit is on open account, however, with this method comes the greatest risk. Other methods of payment include selling by means of various drafts, letters of credit and cash prior to delivery. All of these methods are used extensively in international trade and will be discussed later in this module.
After viewing this module, students should understand:
The speakers for this module are Toni Drake and Val Venable. Toni Drake brings over 30 years of oil and gas credit experience to the table, while Val has worked in various industries including automotive, aerospace, and the chemical industry for over 25 years. Toni and Val both hold a CCE, NACM’s most prestigious designation. Toni and Val have also both attended and excelled at NACM’s Graduate School of Credit and Financial Management to further their education in the field of credit. Finally, Toni and Val continue to support the credit profession as speakers and instructors at events like NACM’s annual Credit Congress.