Banks should
consider Export Trade Finance Outsourcing
12-31-2005
If you’re a bank with a limited international presence, you may
be struggling to deliver
accounts receivable finance to your
large corporate customers involved in foreign export trade. If
so, then international accounts receivable outsourcing may be
your answer.
According to an October 1997 article in Business America: ”One
of the first decisions companies face when contemplating global
trade is how to address the attendant credit risks and
administrative responsibilities involved ------ international
factoring offers small- and mid-sized companies a practical,
cost-effective strategy for penetrating global markets. By
giving exporters the protection they need, and by extending open
credit terms to their customers, international factoring
provides a solid foundation for profitable new trading
relationships that keep businesses on track for greater growth”.
As a bank offering these services in international markets, you
may be facing certain challenges. According to Jeremy Shaw, head
of trade services for JP Morgan Treasury Services, there are
three things that prevent banks from keeping up with
international trade finance: increasing costs, competitive
technology and globalization. Because of these factors, many
banks now turn to outsourcing their export trade finance to
international banks or finance companies that specialize in
foreign trade. 1st Commercial Credit specializes in providing
export receivable finance, purchase order financing, letters of
credit, credit analysis, credit protection and foreign
collections for U.S. export trade companies.
Increasing costs
It’s a fact: offer continuous service, and your costs keep
climbing. Offer newer more competitive services, and your costs
skyrocket. At 1st Commercial Credit, we offer consistent,
competitive rates and you don’t have to worry about the rising
cost of doing business in each country. Our financial services
only incur fees to the client when a transaction is funded. The
fee is bundled into one package that includes, credit protection
and mitigation of foreign receivable risk, 24/7 online reporting
and tracking to help manage activities, funding of accounts
receivable, collections, and access to a team of credit professionals and
operation specialist.
Competitive Technology
With the media constantly revealing what’s available in banking,
it’s easy to see why more and more customers expect the latest,
most advanced technology from banking institutions. At 1st
Commercial Credit, we offer cutting edge technology and
competitive services available online 24/7 and credit approvals
within 48 hours.
Globalization. – As more manufacturing companies move
their plants into Asia and India,
international accounts
receivable trade is growing. At 1st Commercial Credit, we have
experienced account representatives who can meet operational needs of our customers in 60 different
countries (including Asia, Europe, Latin America, India, Africa
and the Middle East) and are able to finance transactions in
over 17 currencies.
When choosing an outsourcing partner, consider 1st Commercial
Credit for your outsourcing needs. One thing is certain: you
will never have to worry about us competing for your business.
Our service is trade receivable financing; not banking, and we
are committed to your success.
In summary, 1st Commercial Credit can offer the following:
-
Accounts Receivable Funding provided around the world with
clients and representation in every major world market
-
Purchase order finance, trade finance, letters of credit and
credit insurance
-
Credit protection and mitigation of foreign receivable risk
-
Access to customer credit ratings online 24/7
-
Credit approvals for new buyers and distributors in any
country within 48 hours
-
Access to online reporting and tracking
-
Collection services
1st Commercial
Credit, a
factoring company headquartered in El Paso, TX, provides accounts
receivable financing in the US, Canada, and the UK; offers
export trade finance to clients in every major world
market and can convert receivable finance transactions in 17
currencies.
Other Services:
Purchase Order Finance
View Recent Transactions
US and Canada Tel 1 800 450 9653
United Kingdom Tel 0 800 404 9669
Start Factoring Today!
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digitally date stamped and is monitored. Please do not copy without permission.
1st Commercial Credit (SM) is a trademark of 1st Commercial Credit, LLC.
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