How to carry out credit management measures in exports?
Credit management measures in exports must be properly managed.
The credit guarantee statement of the importer should be obtained through the ECGC every six months.
Many importers in many countries around the world went bankrupt during this pandemic.
It is safer to engage in export activity with a formal 100 percent advance or half advance payment.
Exporting through LC is a safe procedure for both exporter and importer.
It is advisable to take further action after confirmation by an accredited inspection agency when the importer complains about the shipment and asks the exporter to reduce the price.
Payment methods should not be changed after receiving the export contract or LC. Banks and bank account numbers should not be changed.
Globally, small exporters and importers have been hit hard.
GDP has shrunk in the United States and European countries.
We are in an environment where we have to engage in the export trade very, very carefully
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