What is Export Finance?
Export financing describes the activity of lending organisations helping businesses by financing their export acitivites. It promotes trades as it provides an opportunity for businesses who would otherwise not have been able to trade internationally due to financial constraints.
Export Working Capital Scheme - click here for more information
They are the UK’s export credit agency. They help UK exporters by providing insurance to exporters and guarantees to banks to share the risks of providing export finance. In addition, they can make loans to overseas buyers of goods and services from the UK. UK Export Finance is the operating name of the Export Credits Guarantee Department (ECGD).
UKEF is a ministerial department, supported by 1 public body.
Read more about what they do
EXPORT PAYMENT METHODS
A crucial part of any transaction is ensuring you get paid. There are different payment methods which you should consider. These are:
Detailed information can be found by clicking here
Getting paid on time and securely is the most important financial consideration when embarking on international trade; using a letter of credit helps to avoid these pitfalls.
What is a Letter of Credit?
A Letter of Credit is a written guarantee by a bank assuring payment for goods. It will have strict terms specifying both the amount of money to be paid and within what time frame. If all the conditions are met, payment is guaranteed.
How can we help?
Hampshire Chamber of Commerce is working in partnership with Bristol Chamber of Commerce to offer a Letter of Credit Checking service. We also have members of the Chamber who offer this same service. If you would like to know more please contact the International Trade team on 01329 242420.
Hampshire Chamber of Commerce via the British Chambers of Commerce has partnered with exchange experts, Moneycorp to provide money saving foreign exchange to Chamber members. If you have international payment requirements Moneycorp can help you save hundreds, thousands, even tens of thousands every year.
Free foreign exchange health check
Free assessment of your business's foreign exchange requirments, to help you pin-point where you could improve your margins
Low transfer fees
Our fees start from just £5, a substantial saving over the £20-£40 that banks typically charge
Free account opening
Buy and sell any of 35 currencies
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