Payment guarantees

Increasing difficulty in obtaining payment guarantees

There used to be a time when exporting was risk free in terms of payments because all buyers were expected to open letters of credit. Nowadays, letter of credit has practically disappeared in the United States except for granite projects and even in Germany, which was considered among the safest countries to do business without guarantees, obtaining letter of credit from buyers is becoming difficult and non-payments has become common. The option of exporting is becoming more risky than ever.

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