Advance payments are is the best possible option for an export
business. This means the foreign buyer pays in advance for the order.
However, a business will only be able to negotiate an advance payment
if it is in a very strong position, for example, if it has a scarce
product or a unique technology, coupled with a certain level of trust.
Sometimes, if the country you are exporting to is considered to be a
high risk country you may have no option but to demand advance payment
as financiers will not fund you if you export to high risk countries.
An advance payment can be made for part of the order only, and the final settlement can then be made once all the products have been shipped. Most trade into Africa is done on an advance payment basis due to perceived risks associated with extending credit to buyers and undeveloped import logistics in African countries.
Finfind provides its services free of charge to businesses seeking finance. Our primary purpose is to link SMEs with all the relevant finance providers and finance products that match their funding needs. As a matching service we are not required to be a registered finance provider as we do not loan money directly.