Trade insurance in Lithuania

Question

As manufacturers we can not get trade insurance to deal with a company in Lithuania. This company is a very good customer and we want to be able to continue business with them and offer trade credit, how can we achieve this?

Answer

good afternoon, have you tried speaking with your local export trade finance adviser? this is a new scheme from the UK Export Credit guarantee department.

http://www.ukexportfinance.gov.uk/cont_us/export-finance-advisors

Answer

Hi Mathilde,

We haven’t yet come across this website, the new scheme and our local adviser is something we will investigate, thank you very much for your response.

Jennie

Answer

Dear Jennie
Have you considered using Letters of Credit (L/C) as this would provide a secure method of payment and would alleviate the need for credit insurance. The L/C could be established as a usuance L/C to give your customer the same credit period as you currently give. If you would like to explore this option in more detail please feel free to give me a call on 01223 890767 for a no obligation exploratory chat.
Kind regards
Chris

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