When pricing a product, firms should consider payment and credit terms. Orders are usually small, and Greek importers will request special consideration if a U.S. supplier requires large orders. Greek importers generally expect C.I.F. quotation, except when the purchasing company does a large amount of direct buying and provides its own insurance. American firms should be prepared to quote prices on whatever basis is preferred by the prospective buyer. U.S. exporters should bear in mind that letters of credit and drafts are very expensive in Greece.
Banks require that the cash equivalent be deposited before issuing any guarantees.
Credit U.S. banks and U.S. firms should exercise caution in extending credit to Greek businesses. It is important to obtain full credit background information on any prospective recipient of liberal financing terms. It is advisable to run periodic credit checks, even on businesses that have good payment records. There are no debt collection agencies in Greece. Only courts are empowered to collect debts, through a legal process that is usually long and expensive.