Common Mistakes
  • Incorrect Use of Incoterms (Improper Quoting)
  • Lack of Proper Communication 
    (Between Seller and Buyer/ Forwarding Agent/ Bank)
  • No Set Company Policies
    (Agents/ Distributors Should Follow Same Company Policies)
  • No Proper Review and Adjustment of Purchase Orders/ Contracts/ Letters of Credit
    (Before Signing Agreement/ Before Original Letter of Credit Issued)
  • Incorrect Transport Document 
    (Understanding All Documents Required)
  • Not Understanding Letter of Credit Payment Process 
    (Timing/ Fees)
  • Not Understanding How Letter of Credit Terminology Affect Ability to Comply
  • Not Understanding Additional Conditions/ Instructions to Paying Negotiating Bank
  • Not Allowing Enough Time
    (Production/ Shipping/ Document Negotiation/ Inspection/ Acceptance, if applies)
  • Partial Shipments (How They Effect Cost/ Profit Margin)
  • Proper Classification. 
    (Do Not Allow Buyer to Classify Your Product)
 
Watson Park Associates can assist with avoiding these issues when payment is to be made through any "bank to bank" transaction.
 
 
 
Common Mistakes
  • Incorrect Use of Incoterms (Improper Quoting)
  • Lack of Proper Communication 
    (Between Seller and Buyer/ Forwarding Agent/ Bank)
  • No Set Company Policies
    (Agents/ Distributors Should Follow Same Company Policies)
  • No Proper Review and Adjustment of Purchase Orders/ Contracts/ Letters of Credit
    (Before Signing Agreement/ Before Original Letter of Credit Issued)
  • Incorrect Transport Document 
    (Understanding All Documents Required)
  • Not Understanding Letter of Credit Payment Process 
    (Timing/ Fees)
  • Not Understanding How Letter of Credit Terminology Effect Ability to Comply
  • Not Understanding Additional Conditions/ Instructions to Paying Negotiating Bank
  • Not Allowing Enough Time
    (Production/ Shipping/ Document Negotiation/ Inspection/ Acceptance, if applies)
  • Partial Shipments (How They Affect Cost/ Profit Margin)
  • Proper Classification. 
    (Do Not Allow Buyer to Classify Your Product)
 
Watson Park Associates can assist with avoiding these issues when payment is to be made through any "bank to bank" transaction.
 
 
 
 
We can be reached by phone, email or fax anytime.
 
 
Watson Park Associates
117 McLaughlin Road
Coraopolis, PA 15108 
Telephone: 412-637-9110
Facsimile: 412-226-5145
Email: info@watsonparkassociates.com
 
 
 
 
Watson Park Associates. All Rights Reserved
Custom Website by Pittsburgh Web Designs, LLC
 
 
 
 
We can be reached by phone, email or fax anytime.
 
 
Watson Park Associates
117 McLaughlin Road
Coraopolis, PA 15108 
Telephone: 412-637-9110
Facsimile: 412-226-5145
Email:info@watsonparkassociates.com
 
 
 
 
Watson Park Associates. All Rights Reserved
Custom Website by Pittsburgh Web Designs, LLC
 
Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing Watson Park Associates Letters of credit International Global direct collections Exporters Manufactures Importing Ocean Forwarders Air Forwarders Incoterms Power Of Attorney letter of credit document preparation international incoterm collection bank negotiation purchase order contract sight draft bank contract bank negotiation bank document certificats Global International Corapololis Pa Pennsylvania Shipping Forwarding Exporting Manufacturing