Question: As an exporter of relatively expensive electronic equipment you have
As an exporter of relatively expensive electronic equipment, you have a substantial investment in the merchandise that you ship. Your foreign importers are typically small- or medium-size firms without a long history of operations. Although your terms of sales require payment upon receipt of the merchandise, you are concerned about the possible problem of nonpayment and the need to reclaim merchandise that you have shipped. How might the banking system assist and protect you in this situation?
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