In simple terms it is when an exporter requires an importer to prepay for goods shipped.
The importer naturally wants to reduce risk by asking the exporter to document that the goods have been shipped as proof.
The importer’s bank assists by providing a letter of credit to the exporter (or the exporter’s bank) providing for payment upon presentation of certain documents, such as a bill of lading.
The exporter’s bank may make a loan to the exporter on the basis of the export contract.
MarketInvoice is able to provide finance for companies that might not otherwise be able to gain it elsewhere.
If you are a UK based exporter, MarketInvoice can provide funding against foreign debtors which traditional providers might be reluctant to commit to.
There are no contracts, hidden fees or personal guarantees and you can sell as many or as few invoices as you wish.