The whole procedure is a Step-by-step process: Buyer and seller agree to conduct business, Buyer applies to his bank for a letter of credit in favor of the seller, Buyer's bank approves the credit risk of the buyer, Advising bank will authenticate the credit and forward the original credit to the seller .
Several tips for exporters:Communicate with your customers in detail before they apply for letters of credit, Consider whether a confirmed letter of credit is needed, Ask for a copy of the application to be fax to you.
Branding is not just who you, or your company is, branding is who you are from the perspective of the viewer. You must be highly aware of your brand in all locations, but especially internationally. The maintenance of a central corporate identity will be important in the promotion and selling of your company’s products and services. Seemingly innocuous decisions as size, color, and sound have a profound effect on buyers or not buyers than what you may anticipate. Color could mean that you are in agreement with a national flag or are reflecting purity. Size can look inviting overbearing. Sounds can be motivating, but the same sound could produce fear. Think about different geographical locations and the color, size and sound might mean something entirely different in each part of the world.
What are you to do?
Since you cannot change the corporate identity all together the first thing is to have consciousness of what your corporate brand is and represents in the region which you are most familiar. Next for additional regions that you wish to be in research cannot be underestimated. Look at the brands, colors etc. there and study the history of the people, especially in your market. You will gain clues as to the cultural relationship to brands.
Although there is much to be said concerning consistency, you may need to alter the company’s logos. Sizing is one area where if the approach needs to be softened decreasing the size could be beneficial. On the other hand, deepening on the venue you may need to “turn up, speed up or slow done” your corporate sound. Experimenting with color shades has a noticeable impact on the viewer, but does not necessarily change the brand image.
A very important shift in liability will be happening with your bank you’ll want to be aware of. On October 1, 2015, the liability for fraudulent credit card transactions will shift from the merchant or the bank (whichever is least).
What On Earth Does That Mean?
Basically, when a fraudulent bank card transaction is made; there will be a determination made as to who is liable for the cost. If you - the merchant - have the EMV transactions enabled; you will not bear the liability.
How Do I Know If I’m Liable?
If you are currently accepting online payments; you will need to have the payments encrypted by Tokenization. If you don’t, and are still using the old system: running a transaction with a swipe and signature - you can be liable for any fraudulent transactions if the customer has a chip embedded card. The system also works in the opposite way. If you - the merchant - have a new terminal, but the bank hasn’t issued a chip and pin card to the customer, the bank is held liable.
How Do I Tokenize?
- Keep up with system and software updates.
- Make sure all of your cards are embedded with a microchip, and have a PIN
- Check your online systems for the Tokenization encrypted payment system. If you don’t have it, download it.
The sooner you dot your i’s, the less likely you are to be held liable for fraudulent transactions.
The TEIL Firms, LLC “Where Excellence Matters”
Of all the decisions that you will make when starting a new business, one of the most important is the type of legal structure to create for your company. Your decision on this issue will not only affect your management and the ownership choices throughout the life of the business, but it will also have a significant impact on your tax returns and the way you report profit and loss....Read More