International Banking and Credit Reports
Exporting is not as complicated as you may think. A tremendous asset can be the International Banking staff at your financial institution. Your banker with an international department can tell you about ways to mitigate your risk and how to manage and minimize your foreign exchange risk. They can do this through trade services such as:
- Commercial Letters of Credit - Import & Export
- Standby Letters of Credit
- Documentary Collections
- Export Credit Insurance
They also can provide specific trade financing options such as:
- Working Capital Loans for exports
- Foreign Receivable Financing
- Foreign Buyer Financing
- Overseas Investment Financing
- Forfeiting
Some of the following financial instruments described by Sun Trust Bank can also be used to assist you in your international trade activities:
International Payments and Other Services |
International Wires in USD and Foreign Currency International Drafts in USD and Foreign CurrencyForeign Check Processing • Foreign Banknotes & Travelers Checks |
Documentary Services |
Letters of Credit • Import • Export • Standby • TransferableDocumentary Collections • Import • Export • DirectTraining on Products and Systems for clients using documentary services |
Export Financing Programs |
Short-term Export Financing for U.S. ExportersMedium-term Buyer Financing for Foreign Buyers of U.S. ProductsBanker’s Acceptance Financing and Forfeiting (note purchase facilities)Trade Finance Consulting Services • Referrals to Export Credit Insurance Providers • Interface with Ex-Im Bank and insurance providers to facilitate transactions |
Currency Risk Management |
Spot Contracts • Forward Contracts • Options • Multi-Currency Accounts • Multi-Currency Investments • Multi-Currency Loans • Cross Currency Swaps • Canadian Lockbox Facility |
Online Systems |
Internet based systems for Letter of Credit processing • Foreign Currency Trading •International Wire initiation in USD and Foreign Currency • International Draft issuance |
In many instances a simple background check on your potential customers will reduce your risk and allow you to enter new business relationships with confidence. Information on potential or existing buyers can be obtained through several agencies, both public and private.
Government:
George Frank, Director
U.S. Commercial Service
U.S. Department of Commerce
Export Assistance Office
17 Market Square
Knoxville, TN 37902-1405
865/545-4637
865/545-4435 Fax
george.frank@mail.doc.gov
www.buyusa.gov/tennessee
Private:
Dun and Bradstreet International
988 Easton Avenue
Bethlehem, PA 18025
800-932-0025
610/882-6005 Fax
www.dnd.com
Owens Online, Inc.
251 Lyndhurst Street
Dunedin, FL 34698-1245
800-745-4656
727-738-1245
727-738-8275 Fax
email@owens.com
www.owens.com
Standard and Poor’s Compustat
Customs Products Group
7400 South Alton
Englewood, CO 80112-2394
303-721-4819
800-525-8640
303-721-4677 Fax
www.compustat.com
Standard and Poor’s Rating Service
Ratings Information Products and Services
55 Water Street
New York, NY 10004
212-208-1527
212-412-0505
www.standardandpoors.com
Veritas Collection Services, Inc.
440 Regency Parkway, Suite 134
Omaha, NE 68114
402-399-9555
veritas@probe.net
www.probe.net/~veritas/index.html