Cash in advance and letters of credit are no longer competitive terms in the international marketplace. Companies in other countries expect U.S. exporters to sell to them on open account. Often with 60, 90, 120 days or even longer terms. But it’s challenging to extend credit across borders. What happens if an exporter’s invoice doesn’t get paid? And with such long DSO, how can an exporter manage its working capital?
Learning Objectives:
- Understand reasons why overseas companies want/need terms
- Find out how to obtain and analyze customer info from abroad
- Recognize export nonpayment risks and ways to mitigate them
- Learn tools and techniques for international credit management
- Discover how to access working capital from foreign receivables
Gary Mendell
Meridian Finance Group
President
[email protected]
(310) 260-2130 x124
Gary Mendell is President of Meridian Finance Group, a company providing credit, insurance, and trade finance tools that companies use to expand their U.S. and international sales.
A graduate of the University of Pennsylvania in 1976, Gary has over 40 years of experience in domestic and international sales, distribution, credit, and finance.
Prior to Meridian Finance Group, he held positions managing U.S. and export business development for companies in the pharmaceutical, aerospace, and plastics industries.
Gary has received the President’s “E” Award and currently serves on the federal government’s Trade Finance Advisory Council.
About Our Presenter
Our business soon expanded to include short-term trade credit, providing foreign companies with payment terms for purchasing all kinds of products and services from suppliers in the USA and other countries.
In order to use export credit insurance and political risk insurance more effectively for our trade finance transactions, we obtained our insurance license . . . and shortly thereafter began brokering insurance for other companies as well.
Over the past 20 years Meridian has helped hundreds of companies protect their receivables against non-payment risks, expand their US and international sales, and arrange A/R financing using trade credit insurance.
Meridian has also become a leading broker of political risk insurance… for foreign government contracts and for protecting US investors’ assets located overseas.
Our export finance business has continued to evolve as well, with an emphasis on Latin America but also with transactions completed in the Pacific Rim, Europe, South Asia, the Middle East, Africa, and other emerging markets.
In 2017 Meridian joined forces with Texel Finance Limited to form a global trade credit and political risk insurance brokerage, adding offices in London and Singapore along with direct access to Lloyd’s of London and other new underwriting markets.
Meridian’s clients include large corporations, middle-market companies, and—with no minimum size requirements—small businesses nationwide, as well as banks, non-bank lenders, investors, and other financial institutions.
Our diverse staff is multicultural and multilingual, with experience not only in trade finance and insurance, but also exporting, importing, credit, manufacturing, operations, logistics, and international distribution.
We pride ourselves on the service we provide to our customers. Our contributions to international trade have earned Meridian the President’s “E” Award, three “Broker of the Year” awards from Ex-Im Bank, Strategic Partner status with the US Department of Commerce, and accolades from federal/state export assistance agencies.
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