Businesses are exposed to a wide range of risks every day they trade. For exporters and importers these risks are magnified due to the distance between trading parties which can make the recovery of goods and debts difficult and costly when something goes wrong.
For exporters, there is the risk of non-payment for goods exported. For importers, there is the risk of payment for goods that are not delivered to contract requirements.
Some common reasons for payment disputes include:
- Shipments lost in transit
- Goods delivered in a damaged state
- Significant transport delays affecting sale price
- Goods purchaser unable or unwilling to pay
