December 2015
'Tis the Season... Mindful of the impact of world events on our lives and those around us, we learn to appreciate each day. We truly value our relationship with you and wish you all the best as we close out this year.
Happy Holidays! ~ from all of us at Trade Acceptance Group
Ex-Im Bank Waiting on Congress
Policyholders are watching their export credit insurance policies expire which puts cash flow at risk. Bankers are losing a key secondary repayment source. Many companies with the option of shifting their coverage to the private sector have already done so. Others are left with no viable alternatives.
Meanwhile, despite a majority in both Chambers of the U.S. Congress voting in strong support of Ex-Im Bank's Reauthorization, legislation that would allow the Bank to re-open for business is still pending.
Keep an eye on the Highway Trust Fund bill... it expires on December 4th, 2015, and the Ex-Im reauthorization is currently attached to it!
Read TAG's synopsis here.
Then Take Action here.
Do You Believe in Free Money?
Imagine the possibilities... Attend a trade show, translate your marketing materials, participate in Gold Key matchmaking services, and increase exports!
STEP grants are available in 40 States and are intended to support small business exporters. Click here to learn more. Then, visit the SBA and click on your State to find additional program and contact information!
For exporters in the Milwaukee area...
There is a fantastic new opportunity available to you through the Milwaukee 7 Regional Economic Development Partnership (M7). As part of the Global Cities Initiative and the region's Export Strategy, funds have been made available by JP Morgan Chase for the Export Development Grant Program to help companies grow in international trade. For more information including an online application, visit the M7 here.
How Do Your Buyer's Past Dues Affect Your Coverage?
Please be careful... your insurance coverage is impacted when your buyer is past due.
Specifics vary by insurer but, in all cases, there is a deadline by which you MUST report your buyer as past due - and, in some cases, you may have to stop shipping to that buyer until the situation is resolved. You may also lose your discretionary authority to approve late payers for future shipments even if they become current. Failure to follow the terms outlined in your policy can result in a CLAIM DENIAL.
Contact us for a policy review today!
FX and Import Controls
Is your buyer having trouble getting the hard currency to pay your invoice?
Among the resources available to you are the Country Commercial Guides (CCGs) put together by our U.S. Embassies worldwide. These guides have information on trade and project finance, selling U.S. products abroad, general market overviews, and much more.
If your buyer is located in a country where currency flows are restricted, check out the sections on FX and Import Controls in the CCGs. Here are a few examples:
Country Commercial Guide - Argentina
Country Commercial Guide - Brazil
Country Commercial Guide - Egypt
Country Commercial Guide - Greece
To see Country Commercial Guides for other countries, visit the Department of Commerce here.
As always, we value our relationship with you. If we can be of assistance in any way, please let us know.
Happy Holidays and Best Wishes for the Coming New Year!
Kind Regards,
The TAG Team
Curt, Leslie, Ursula, Jackie, Sara and Mason
We appreciate your feedback! Please let us know what you think. If you have ideas for content you'd like to see in future issues, do let us know. Remember, "We Work for You!"
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