|
|
|
|
|
|
|
|
|
News
|
|
|
|
|
|
|
13.09.2006
|
On Thursday, September 14, an “Eastern-European Export Seminar” arranged by Hansa Liising and KredEx, will be held at Laulasmaa conference Centre. An overview of the peculiarity of the eastern market, risks accompanying various export deals and their management will be given at the seminar.
The aim of the seminar is to summon the specialists of Eastern European market and export enterprises to exchange the experience and knowledge on the peculiarity of the market and the probable issues. The seminar discusses the role of eastern trade in Estonian economy, management of credit risks accompanied by export; also an overview on the current situation on Russian economy and import is given, and the experience of the exporter at the eastern market is shared.
According to Ivar Kõllo, the Director of Hansa Liising Factoring and Storage Financing Division, Estonian exporters have recently begun to sell more of their products to Russia, Ukraine and other former SU countries. “When a great percentage of the sales took place in the near past and happens also now at the terms of prepayment, the pressure of foreign buyers to exporters to enable them namely the credit terms for product purchase has been observed increasingly more. Enabling the credit terms to the purchaser is often one of the biggest competition advantages and often even a prerequisite to stay competitive,” finds Ivar Kõllo.
According to the assessment of Jako Kruuse, the Head of KredEx Export and Enterprise Division, the exporters face mainly the liquidity issue and credit risk, likely to result in the loss of money for the exporter due to payment difficulties or unwillingness of the purchaser. “It can be avoided by export factoring with the KredEx export guarantee. When the exporter submits after supply its accounts to the factoring company, it is able to get immediately up to 90% of the sum. In case the money does not come in from the purchaser, it has to bear a loss in some cases, but while using besides the factoring also the export guarantee, KredEx will bear a loss in case the bill will not be paid for", explains Jako Kruuse.
|
|
|
|
|
|
|
|
|
|
|
|