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Microcap & Penny Stocks : ProNetLink..(PNLK)
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To: Stephen who wrote (7157)6/20/1998 7:36:00 PM
From: Peter Mui  Read Replies (1) of 8242
 
> The import/export business is quite complex,
> both from the methods that can be used (though
> I would think that a Letter of Credit would be
> used for a first transaction)

Yes, however many companies do not have the credit history or worthiness to warrant a bank's letter of credit. Most companies listed favorably in D&B or companies that are multi-nationals have no problems procuring credit. Smaller companies that have short credit histories will never be able to obtain a letter of credit due to the high risks involved with such transactions to the bank and to the vendor.

Most new transactions between buyer and seller will require that the buyer put up the entire amount in cash for the first invoice. I have never experienced a vendor that would allow terms or net status to a new international customer without a solid credit history. As a rule of thumb within my own company, we have never given credit terms to a new international customer though we are liberal with companies within the USA that complete our credit application and have proven themselves within their respective markets for the past 3 years, minimum.

This is not a subject that PNLK is addressing but it is really the banks and the vendors that have to address it. Credit is controlled by banks and vendors, not an intermediary such as PNLK or any other contact broker.

> I think having some KNOWLEDGABLE people to
> speak to at the end of a telephone line would
> help them tremendously to succeed in what I
> perceive as the first measurable target of
> their strategy (sign-ups), and the revised
> business model would almost evolve by itself.

Well spoken. New customers and sign-ups need to speak to people. E-Mail is okay but many times during business, answers are needed quickly and there is a lag-time in e-mail responses.

Regards,
Peter
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