International Credit and Collections: A Guide to Extending Credit Worldwide
All the information you need to extend your credit lines worldwide!\ As more and more companies expand globally, their credit managers must learn to understand and implement foreign concepts and practices while navigating different cultures and traditions. But working across borders and time zones has its pitfalls and credit managers must be well informed and up-to-date to avoid expensive mistakes and maintain their credit standards. International Credit and Collections brings together...
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As companies expand into the global marketplace, it is imperative that credit managers broaden their horizons to include international credit. Extending credit across international borders requires a credit manager to be well informed on issues around the world. Successful international credit managers must be able to grasp and implement foreign concepts such as country risk and forfaiting while also navigating different payment systems, legal systems, and cultures.International Credit and Collections brings together contributions from international experts to provide a comprehensive review of vital issues in international credit. Firsthand accounts, real-life examples, and case studies are included to shed light on practices that may be foreign to credit managers.The book begins with an overview of international credit that will help a manager establish credit standards for international customers that accurately reflect a company's domestic standards. Other sections feature discussion of these vital issues in the international arena:• The basics of international collections-speeding up collections, invoice discounting, and the real-life stories of an international collection expert• Cultural differences and awareness issues with a focus on Latin America, the Pacific Rim, and Europe• In-depth coverage of unfamiliar concepts such as credit insurance and forfaiting• Using bartering and countertrades• Taking advantage of government programs• Letters of credit, credit reporting practices, and credit applications• Using the Internet and new technologyWhether you are new to the global marketplace, or need to stay up-to-date on new procedures and standards, International Credit and Collections will provide all the information you need to be competitive around the world.
Pt. 1International Credit11International Credit Policy32International Credit Information133International Credit Applications194Country Risk and Its Effect on Credit and Collections23Pt. 2Collections355International Collection Basics376Export Factoring and Invoice Discounting477Documentary Collections and Protesting518International Collection Case Studies57Pt. 3Cultural Awareness679Cultural Awareness6910Cultural Differences: Latin America7711Cultural Differences: Pacific Rim8512Cultural Differences: Europe93Pt. 4Dealing with People9713Customer Visits9914Credit and Sales: Solidifying the International Team109Pt. 5Credit Insurance11515Export Credit and Political Risk Insurance11716Changing World of Credit Insurance12317Credit Insurance Case Studies135Pt. 6Forfait14518Forfaiting14719Forfaiting Case Study155Pt. 7Government Programs16320Tapping Federal Export Finance Programs16521Data Protection Legislation in the United Kingdom183Pt. 8Bartering and Countertrade19322Countertrade19523Countertrade Case Study201Pt. 9Letters of Credit20724Letter-of-Credit Basics20925Letter-of-Credit Problems and Solutions219Pt. 10Technology22526Technology22727Encryption23528Credit Scoring24129E-commerce and International Credit Executives24730Professionalism in International Credit25331Closing Thoughts259Index263
