Read each customer situation and identify products and services to meet the cust

Question

Read each customer situation and identify products and services to meet the customer's financial needs. Hint: Look beyond just the customer's stated need to identify cross-sell opportunities. Explain your choices.

S.F. Machine Tools Corporation has agreed with a firm in Germany to purchase a quantity of machine tools at a specific price. The U.S. firm wants to make sure the contract is fulfilled before it pays for the merchandise, and the German company wants to be sure it will be paid before it ships the merchandise. What international banking service will likely meet the requirements of both parties? Explain.

Read each customer situation and identify products and services to meet the customer's financial needs. Hint: Look beyond just the customer's stated need to identify cross-sell opportunities. Explain your choices.

S.F. Machine Tools Corporation has agreed with a firm in Germany to purchase a quantity of machine tools at a specific price. The U.S. firm wants to make sure the contract is fulfilled before it pays for the merchandise, and the German company wants to be sure it will be paid before it ships the merchandise. What international banking service will likely meet the requirements of both parties? Explain.

Explanation / Answer

Bills of exchange will meet the requirements of both the parties. Bills of exchanges are primarily used in international trade to pay for goods and services. The bills will clearly specify the terms of the contract and the predetermined date of the payment.

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