Carole, I'm not really one to comment on the site as I haven't been involved in documentary credit for many years. I think the site is useful and the price is right ... and I love the concept. However, from distant memory a couple of things to consider are...
If a company is interested in import/export connections, their first point of call is their bank. Usually they need a lot of hand holding.
If they are already into import/export, their customers are usually already established. If they have been trading for a while and there is a low country risk, then they will perform the transaction as a 'call collection' because its cheaper. If its a new relationship, they will use a Letter of Credit, which puts the emphasis on the bank to check out documentation and timing of money and goods shipment. This is a much more expensive way to go. they may also need financing between payment, getting the goods and selling them, so will issue a prom note against the value of the goods..... etc .. etc ...
I guess the point I'm trying to make is, in the modern world, the trade part is very conservative in its manner and approach.... I think it takes a massive leap of faith to try and do a transaction through the internet approach, and I'm not totally convinced it will be an immediate hit.
Sorry for the rambling style ...trying to do a couple of things at once
Good luck to us all
Stephen |
