Tradewind has announced a $500,000 credit facility for a leading ready-made garment exporter based in Bangladesh. The company sells to several renowned buyers in Europe, including Primark, and in the US and is using the facility to support increasing sales on open account payment terms to its existing and future customers.<\/p>\n
Before seeking out Tradewind\u2019s financing, the garment exporter was accustomed to receiving payment through letter of credit or sight TT, but this pattern was broken when one of its buyers requested payment on open account. The company faced difficulty accepting these new terms because they did not align with the requirements of its bank or of the company itself as it needed additional security and liquidity to operate. To solve the cash shortfall, Tradewind provided funding that allowed its client to transact on 45-day open account terms and that minimized the gap between the buyer\u2019s requirement and the company\u2019s requirement. It also provided credit protection by acting as an intermediary between its client and the buyer, covering the risk of non-payment.<\/p>\n
Not only did Tradewind help broker a solution on behalf of the client\u2019s own interests, but the buyer also benefitted from the arrangement as it helped them to optimize their supply chain. Going forward, the client can now better cater to the shift that it is seeing with some of its European buyers from letter of credit to open account and offer extended terms to tier 1 retailers on a global level.<\/p>\n
\u201cTradewind recognizes that most large international buyers in today\u2019s marketplace are conducting trade through open account terms. With a presence in Bangladesh and vast experience financing textile and apparel exporters there, our client found our international capabilities, flexible solutions, and ability to scale funding with sales growth to be the right match for its financing needs. As always, we are happy to service a client like this who is a mainstay of the Bangladeshi economy,\u201d states Soheil Zali, Country Manager of Tradewind Bangladesh.<\/p>\n
Tradewind provides innovative international cash flow solutions tailored for global clients. Focused on the mid-market, its core products are non-recourse factoring and supply chain finance. The group has built an unrivaled reputation for the depth of its international finance expertise by maintaining a network of offices around the world including the USA, China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, Bulgaria, Hungary, Peru and its headquarters in Germany. Combining financing, credit protection, and collections into a single trade finance facility, Tradewind offers streamlined, flexible and best-in-class services.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tradewind has announced a $500,000 credit facility for a leading ready-made garment exporter based in Bangladesh. The company sells to several renowned buyers in Europe, including Primark, and in the US and is using the facility to support increasing sales on open account payment terms to its existing and future customers. Before seeking out Tradewind\u2019s […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[474,482],"tags":[],"class_list":["post-1965","post","type-post","status-publish","format-standard","hentry","category-case-studies-es","category-deal-announcements-es"],"yoast_head":"\n