Today s global market requires many companies to extend credit to their foreign customers . .
Extending credit can often give your firm a critical competitive edge and often makes your product less costly to your foreign buyer. Being able to offer open terms is cheaper in both terms of time and money than letters of credit, especially for smaller transactions. Some additional reasons given by our clients for using our foreign trade credit programs. Reducing our usage of letters of credit has saved both an enormous amount of time and headaches. Being able to offer more aggressive financing to our foreign buyers and, in effect, extending lower U.S. interest rates to them has created more long term customer benefits than we can quantify.