When the U.S. dollar regains strength should companies abandon international banking or keep at it?
The current outlook for the dollar is continued weakness due to falling interest rates, persistent liquidity concerns, a soft housing market and presidential election uncertainties. However, the dollar is bound to strengthen at some point and establishing foreign trade opportunities can lead to long-term relationships that can remain in place no matter the domestic economic cycle. What are some typical international banking product offerings? International banking products typically include Letters of Credit (LCs), Import and Export Collections, Export Financing Programs and Foreign Country Analysis. International LCs streamline the fine points and reduce the uncertainties of international payments, and generally make it easier for your business to trade with new vendors and customers, protecting both parties. The bank that issues the LC guarantees payment on the buyer’s behalf. To receive payment, the seller must present documents as required by the terms of the LC. The use of LCs pro
