#1 Knowledge Base for Pipes, Valves, FittingsMiscellaneous technical and commercial articles covering materials for energy projects
The most common payment terms for contracts are “open account” (the seller delivers without any guarantee, and expects the payment at a later stage), “documentary collections” (the exchange of the documents representative of the goods and the payment are managed via banks), “letters of credit”, “cash in advance”. CASH IN ADVANCE (CA) Cash in advance… read more »
Purchase contracts may be filled with risks. In this article, we provide a useful checklist to make sure all major contract risk areas are identified and mitigated with proper actions. Contract risks may come from purchase orders and the attached (or referenced) General Terms and Conditions of Purchase. A useful read for suppliers dealing with… read more »
In this article, we list the 5 basic ways to finance export sales: factoring, credit forfaiting, banker’s acceptance, EXIM banks. FACTORING Factoring is used by exporters to discount sales invoices and cash in the credit before the due date. With such transaction, the seller/exporter sells the credit to a specialized financial intermediary (generally, a bank or… read more »
CE marking means “Conformité Européenne” and consists in a logo with the two letters “C” and “E”. A manufacturer stamps a CE logo on its products to confirm that they comply with the applicable EU safety regulations (protection of human life and of the environment). CE marks may be double-checked by a third party or… read more »