Apparel Brand
PRODUCT: Overseas Apparel
PURCHASE ORDER: 33 Unique Styles
An apparel brand name licensee purchased various garments through a fulfillment house in Canada. The clothing was manufactured in facilities in China and Mexico. When our U.S. based client received a significant order from a buyer in Dubai, they were excited to see the purchase order was for 33 different styles. That was an amazing purchase order. And one that would make a significant impact on their annual revenue. Yet they knew those 33 different styles would need to be manufactured and shipped through Canada.
Taking a closer look at the purchase order, they could tell that their client in Dubai had been issued a Letter of Credit by HSBC ensuring payment once the goods were shipped to Dubai. Our client immediately reached out to us for the funding they needed for manufacturing and exporting to the U.S. But there was something else – they had no idea how to manage the order process, customs, or logistics. Thankfully, our 30+ years of experience helped them every step of the way and they were able to complete the order within the terms and conditions of the letter of credit.
Global cleans up North Africa
PRODUCT: Green Technology
PURCHASE ORDER: Clean Western Technology Trial Project
Home is where the heart is! And that’s no different for our North African client. An inventor and exporter of green technology, our client had been working diligently to export clean western technology to his homeland in North Africa. After much research, development and production, our client secured the distribution rights for a product manufactured in the Midwest. He presented the product to authorities in his homeland and received a signed contract for a trial project.
While he was ecstatic about the contract, he was also given the requirements and procedures to follow to complete the project. A letter of credit was issued and was advised through a US bank in Florida. What he found, though, was turning that L/C into cash was more difficult than expected and he was turned away by multiple U.S. lending institutions.
Our client was on the verge of turning down the contract until he met the team at Global Trading Partners. Global did a complete evaluation of the purchase order, the terms of the contract and an analysis of their clients’ creditworthiness and was able to quickly say yes to extending the funds. While the funding provided the cost of loading the product into containers, Global’s services also included assisting with the management of the logistics, preparation of international shipping documents, invoicing, bill of lading, packing list and various other certificates required under the terms and conditions of the Letter of Credit. Oh, did we mention that all this happened amidst a major storm that closed several East Coast ports. Yes, that complicated matters, but the documents were discrepancy-free, and the product arrived within the timeline allowed.
