Can someone update me on what is the best way to make sure I get paid on a sale to a buyer overseas? I have a $10,000 item and a buyer in Europe. I don't do many of these, so am not sure what is customary. Letter of credit? PayPal? 50% with order and balance upon receipt of equipment (which I don't like)? Thanks.
The absolute best way to ensure payment is wire transfer in adavance of shipment of the order.
Most overseas buyers are aware this is the customary way to acquire refurbished U.S. Medical Equipment.
Molly Jackson
Pro Scope Systems
proscopesystems@cinci.rr.com
Dick, I would suggest RATHER then a letter of credit as many banks can be "fooled" by these and you can be left "HOLDING" an empty money bag. Have them wire transfer the funding! They can be able to go through there bank or an exchange bank to change from there currency to USD. And then have them wire the funds. You "might" loose a few dollars in fees but once the wire has been received. Then you can release the equipment to there freight forwarder. Becareful of using getting a cashiers check or a business check as well!! Good luck. JW
The export import bank is the resource for insuring overseas transactions. Visit www.exim.gov Local banks deal with this organization and offer a variety of vehicles for insuring your transaction.
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Dick Slade
Getting paid for export
July 26, 2003 09:01
Can someone update me on what is the best way to make sure I get paid on a sale to a buyer overseas? I have a $10,000 item and a buyer in Europe. I don't do many of these, so am not sure what is customary. Letter of credit? PayPal? 50% with order and balance upon receipt of equipment (which I don't like)? Thanks.
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Stuart Jackson
Re: Getting paid for export
July 27, 2003 09:59
The absolute best way to ensure payment is wire transfer in adavance of shipment of the order.
Most overseas buyers are aware this is the customary way to acquire refurbished U.S. Medical Equipment.
Molly Jackson
Pro Scope Systems
proscopesystems@cinci.rr.com
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Jeff Weisman RRT
Re: Getting paid for export
July 27, 2003 02:59
Dick, I would suggest RATHER then a letter of credit as many banks can be "fooled" by these and you can be left "HOLDING" an empty money bag. Have them wire transfer the funding! They can be able to go through there bank or an exchange bank to change from there currency to USD. And then have them wire the funds. You "might" loose a few dollars in fees but once the wire has been received. Then you can release the equipment to there freight forwarder. Becareful of using getting a cashiers check or a business check as well!! Good luck. JW
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Igor Rojs
Re: Getting paid for export
July 27, 2003 03:14
Which country?
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Shad Sletto
Re: Getting paid for export
July 28, 2003 08:03
The export import bank is the resource for insuring overseas transactions. Visit www.exim.gov Local banks deal with this organization and offer a variety of vehicles for insuring your transaction.
to rate and post a comment