In the current global financial climate, many UK exporting companies are turning to Letters of Credit as a means of securing payment from buyers in new or difficult overseas markets.
We are hearing from an increasing number of clients who are being subjected to sudden hikes in the level of charges being deducted by UK based advising or confirming banks.
When negotiating terms with buyers it is always advisable to factor bank charges into your pricing. To help you to anticipate these costs, we have drawn up the following list of typical transaction fees taken by the major UK banks:
6 Steps to Export Success
These are hard times for everyone, but many UK businesses are surviving the financial crisis by taking advantage of the weak pound and selling to overseas markets.
While exporting can increase sales though, there are risks and costs involved in selling overseas which can be disastrous for your cash flow.