When it comes to exports, companies often want to play it safe. If you require your customers to pay up front in euros, you minimise the risk related to their payment ability. On the other hand, this could result in you losing plenty of good deals.
The biggest risk in foreign trading is often that you’re unable to close the deal. That’s why you should always listen to your potential customers’ wishes.
Most of your customers probably want to trade in their own currency and would rather pay you later than in advance. Read more about foreign currency paymentsOpens new window. We can offer you solutions that address both your needs and your customers’ wishes in the same package: customers receive stable prices, they can pay with their own currency and even be granted longer payment periods. Read more about Recourse FactoringOpens new window. Meanwhile, you will receive your payments in euros quickly and with no risk.
Give your customers security
Sometimes your customers will demand additional guarantees that you, as a seller, are able to meet your obligations before they will agree to a deal. We can alleviate their fears with bank guaranteesOpens new window. Nordea is one of the most financially stable banks according to several credit rating agencies, and that’s why our guarantees can really tip the scales in your favour.
Offer your customers price stability
Before you give your customers a price list in their own currency, you should consider how you will be able to reflect potential FX fluctuations in your prices. The most sensible thing to do is to make your own arrangements so that you don’t have to bother your customers with constant price changes. FX hedges can mitigate fluctuations in currency rates, sparing you the hassle of thinking about when to raise prices and worrying about the FX markets’ movements.