PAYMENTS AND DELIVERIES
Convenience stores and commercial streets are areas where products like furniture and clothing are sold without formal outlets, such as
mail order, automatic vending and door to door sales. Other commercial activities, on the other hand, deliver their goods to customers. Their programs may include 24-hour service and guaranteed shipment on thousands of widely used products.The quality of delivery services is a crucial factor for the survival of a company. A small business organization warned that they might go bankrupt because of payment and shipment delays.
According
to Michelle Seymour, in charge of
deliveries at PHD Inc.:
You've got to check out the creditworthiness of your customer's bank to make certain it will be willing and able to release payment as the customer receives your goods or services.The best way to check out a foreign bank is with the assistance of your own local bank. If it can't help, try the local Chamber of Commerce.""
Until you get to know your clients better, it is advisable to insist on
payment in advance, for which you can give them a discount. Another possible form of transaction is payment through a confirmed, irrevocable letter of credit. However you should never loosen payment terms until a client has proved that he's worthy of your trust.Another way of preventing outstanding payments is to sign an agreement and ask for a
deposit in advance.