The opportunity for a business to go global with their products or services can significantly increase their customer base as well as help increase brand recognition.
Atlanta, GA (PRWEB) March 12, 2015
C2C Resources, a commercial debt collection agency, released a comment today on how businesses can define international credit standards to protect themselves from bad business debt and risky business relationships. The comment comes in response to the U.S.’s current negotiations on two free trade agreements.
According to an article in The Tico Times, “US, Latin American leaders push hard for proposed Trans-Pacific Partnership,”(February 17, 2015), writer Larry Luxner states that while the negotiation for the trade agreements have both been considerably long processes, many Congress members believe the trade benefits that could come as a result will be advantageous for encouraging business growth and increasing job opportunities throughout the United States.
President of C2C Resources, Todd Tinkler, agrees: “The opportunity for a business to go global with their products or services can significantly increase their customer base as well as help increase brand recognition. It is encouraging that the United States continues to help open up opportunities for business growth. Nevertheless, business leaders need to ensure they are level-headed when they approach any business decision, domestic or internationally. Something that appears too good to be true probably is.”
Like for any domestic customer, when a business decides to extend international credit terms its credit department should develop a credit application that requires contact information, banking information and trade references. Specific to international countries, businesses should also ask for the customer’s Swift code or IBAN number.
Tinkler suggests businesses should also consider the following factors when deciding which businesses to accept purchase orders from:
1. Country risk
2. Cultural differences between the companies
3. Collection policies within the country
4. Competition within the market in the country
For more discussion on the topic, visit the recently released C2C Resources blog:http://www.c2cresourcesblog.com.
About C2C Resources:
C2C Resources is a global Commercial Debt Collection agency headquartered in Atlanta, Georgia. The company collects commercial debt on behalf of their over 25,000 clients and is considered one of the top agencies in the country. The executive team at C2C brings more than 60 years of experience helping businesses collect their accounts receivable.
C2Cs powerful combination of Profit Maximizer, InfoMax Collection System, and Legal Forwarding Edge, can help your company be more effective with your own in-house collecting and maximize recovery of accounts turned over for collection.