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Getting Paid: How to Negotiate International Commercial Transaction Payment Methods (TRD618A)

Presented by: Tiffany N. Compres, Esq., LL.M.
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Event Description

Choose from 5 Payment Methods

Offering attractive sales terms is the key to success for importers and exporters in today’s global market place. But payment methods present a particularly thorny issue—because what is best for the party on one end of the transaction is usually the worst option for the other. While importers prefer to receive goods early and pay late, exporters are generally looking to be paid in advance. That’s why it’s crucial to choose a payment method that minimizes your payment risk while remaining palatable to your transaction partner.

Discover the five primary methods of payment in international transactions—and learn which will work best for your business. In this session, industry veteran Tiffany N. Compres will teach you how each payment method works, the benefits and limitations of each, and how to use them to manage risks most effectively.

After all, the international marketplace is full of monetary risks—from questions about a foreign buyer’s creditworthiness or a seller’s trustworthiness to dealing with currency fluctuation and in-transit product damage that can make the timing of payment a serious point of contention. But by knowing all your strategic options, you will be well prepared to negotiate a deal that minimizes the payment risks inherent in your international trade transactions.

Session Highlights

In this informative session, you will learn:

  • The primary risks at play in international commercial transactions/import/export transactions
  • The 5 payment methods used in international commercial transactions: Cash in advance, Letters of credit, Documentary collections, Open account, and Consignment
  • Types of letters of credit (e.g., revocable/irrevocable, confirmed/unconfirmed, revolving, back-to-back, deferred-payment, and red clause) and the laws governing this payment method
  • Types of documentary collections (e.g., sight draft and time draft)
  • How each payment method works
  • The advantages of each payment method
  • The limitations—and risks—of each payment method
  • Points that can be negotiated to make the most of each payment method
  • How to settle on the best payment method for your transaction

Who Should Attend

  • Importers
  • Exporters
  • International sales executives
  • Risk managers
  • International contract specialists
  • International litigation and transactional attorneys
  • In-house counsel for importers/exporters and companies that do business internationally
About Our Speaker(s)

Tiffany N. Comprés | International Commercial Law SpeakerTiffany N. Compres Esq., LL.M.
Tiffany N. Comprés, Esq., LL.M. is uniquely qualified to help people and companies buy and sell goods across borders and resolve international disputes: she speaks four languages and has practiced in Italy, France, and the United States. Although her primary area of expertise is the international fresh produce industr... More info

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    Event Title: Getting Paid: How to Negotiate International Commercial Transaction Payment Methods
    Presenter(s): Tiffany N. Compres, Esq., LL.M.

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