AboutRichard Barr Expertise My professional expertise is International Banking, concentrating on the areas of Money Transfers/Payment Systems and Int`l Trade Finance. Due to the high amount of travel my job requires, I am competent to give information concerning "Business Travel" as well.
Experience I have over 18 years of combined Banking/Trade Finance experience. Spreading over 4 continents. Having spent 5 years at Wells Fargo Bank provided me with a solid background in banking. After that, I moved to Israel and worked in Import/Export for 3 Years. Followed by another year as the resident expert in trade finance for the Jerusalem region of a medium sized bank. Capitalizing on my proficiency, I moved into the high-tech world where I remain today as a Business Analyst/Project Manager/Consultant for Payment Systems and Operations Risk.
Education/Credentials Certificate in Speech Communications, AA in General Business. Both from Mission College, Santa Clara - California. BS in Int''l Business/Bus. Admin. From San Jose State University, San Jose - California
Question I have an opportunity to sell some equipment in South Africa. I would like to have 50% down before fabrication begins with the balance due before the equipment is booked on a vessel. The buyer is handling all the shipping. How do I word the terms of my proposal? Thank you in advance. Jerry
Answer Hi Jerry,
I think I'd simplify the terms a little so it would be
50% due on placement of order
50% due prior to EXW
EXW is "exworks"
Since the buyer is taking full responsibility for shipment. You only take responsibility up to the point it leaves your factory, which is exworks. You could complicate the process by saying 50% due prior to shipping being booked but that's a bit ambiguous.
