GCSARMS international services can assist Australian Businesses in identifying companies you can successfully deal with, importing or exporting, we can assist your successful sales in over 85 countries.
For international businesses wanting to export to Australia, or purchase goods from Australia GCSARMS can provide a concise report on the company and its directors you are considering dealing with.
It is no use making an export sale, if you don't get paid. While this can be said for a domestic sale as well, securing payment from an overseas customer can be a lot harder than from a local company.
Many exporters are faced with no other alternative but to offer long trading terms in order to remain competitive. Terms can commonly be up to 90 days and therefore managing this is important. Many banks and financial institutions offer trade finance products which will help fund your debtor's book and eliminate the problems caused by long payment terms.
The best methods for managing your risk will vary depending on your individual situation, so it is worth investigating all your options. Once again the methods of managing your credit risk will come at a cost, so these costs should be factored into your export pricing. GCSARMS Export Risk services will assist in minimising and risk dealing both inside and outside Australia.
Will your goods arrive in the same condition in which they left? Many exporters swerve around this issue by saying, "we sell FOB, so it's our customer's problem." While this argument has some merit, it is in no one's interest if a product arrives in a condition different to what it left. Your customer may believe you packed the goods incorrectly, you may believe your customer's freight forwarder handled the goods incorrectly.
Political & Country Risk:
A politically unstable country may result in the inability to convert a currency, an exchange transfer blockage or changes in regulations which affect the import of your product. With offices in over 85 countries and expanding, GCSARMS can advise on the current situation in any current you wish to carry on business with.
Unfortunately there are many people who make a living out of taking advantage of unsuspecting businesses. These scams can vary greatly in sophistication, from repeated requests to provide product samples, without any intention of purchasing, to the more elaborate scams where you are invited to visit a buyer to sign a "contract", however the buyer ultimately disappears after you visited them and spent time and money on them.
The best thing to remember is, if it sounds too good to be true, then it probably is. GCSARMS can do your research on any suspect buyers, and look for holes in their story.
GCSARMS Due Diligence reports have been successful in identifying a number of potential fraud cases with our customers. Some did just sound too good to be true, while others were quite elaborate. Take the time to assess all opportunities as they may not always be what they appear to be.
The Risk Management Matrix:
While the risks will vary from exporter to exporter, country to country, and customer to customer, it is important to make a thorough assessment of all risks prior to entering into any contract or agreement. Using GCSARMS to assist in Risk Management will allow you to lessen the likelihood of a risk occurring and the consequences if that risk did occur.