Invoice Factoring Group

Letters of Credit. How they Work and How to Use Them

Are you doing business overseas and your supplier has asked you for a letter of credit? Do you own a distributor, wholesaler or re-seller and have a large purchase order where you need a letter of credit to pay your suppliers? As the number of national and international transactions grows, so does the number of suppliers that are asking to be paid with a letter of credit. A letter of credit is a... (posted by Invoice Factoring Group 6 years 43 days ago.)

Letter of Credit Basics. Lean how this tool works.

A letter of credit is a financial tool that streamlines the process of doing business both nationally and internationally. It provides a guaranteed (usually) form of payment to your suppliers while limiting your risks in the transaction. To better understand letters of credit, let’s look at an example. Let’s say that you own a widget distribution company. Let’s also say... (posted by Invoice Factoring Group 6 years 80 days ago.)

Net 30? Should You Offer Credit to Your Customers?

One of the big differences between consumer and commercial transactions is that most, if not all, consumer transactions are paid in cash or by credit card at the time of sale. Because of this, most consumer businesses never have to worry about extending credit to a customer and can run their operations on an “all cash” basis. This allows them to focus on their core competencies because they don’t have to... (posted by Invoice Factoring Group 6 years 145 days ago.)