Whether you're selling products into the U.S. market or you're a U.S.-based exporter selling internationally, CIT can help your company offer competitive open account terms of sale while controlling the risks involved.

Below are some of the most frequently asked questions about CIT's import/export factoring services. If you have additional questions or if you would like more information, please e-mail us or call us at (800) 248-3240. We look forward to working with you.

Frequently Asked Questions

What services does CIT provide?
What are the benefits?
What type of companies use import/export factoring?
What portion of my import/export sales will be covered?
Can CIT work with my bank?
Can this service enhance my borrowing ability?
What is CIT's experience in this market?
Can CIT help Asian manufacturers?
How can I learn more?
Can I get a free price quote?

What services does CIT provide?

• Comprehensive international credit management
  
• Protection against bad-debt losses
  
• International collection services
  
• Working capital to fuel international sales growth
  

CIT can manage the whole process for you - from invoicing through collecting to full financial reporting. This service provides you with an integrated accounts receivable management system for your international sales.

What are the benefits?

• You can safely offer your foreign customers competitive open account payment terms.
• CIT helps you convert receivables into cash by advancing funds to you prior to collection.
• Ease much of the credit and collection burden created by international sales.
• By outsourcing the credit function, you can convert the high fixed cost of operating an international credit department into a variable expense based on your sales volume.

What type of companies use import/export factoring?

Manufacturers that sell to customers in the United States, Europe, Asia, Canada and Mexico with terms of sale of up to 120 days find this service very useful.

What portion of my import/export sales will be covered?

Import/export factoring provides credit protection on 100% of the value of your invoices billed.

Can CIT work with my bank?

Yes. CIT can collect the proceeds from your sales and assign them to a bank in your home country if required.

Can this service enhance my borrowing ability?

Yes. Many companies use import/export financing as a method to increase their borrowing ability from their lender since many lenders refuse to lend money against foreign receivables. With this service, CIT purchases your accounts receivable and assigns the proceeds to your bank. Your bank will then be able to lend against those receivables.

What is CIT's experience in this market?

CIT is one of the world's largest providers of factoring and accounts receivable management services. Our experience in managing accounts receivable spans the world market through a network of international correspondents.

CIT is a charter member of FCI (Factors Chain International), the largest factoring network in the world. FCI's membership base boasts 93 independent factoring companies in 34 participating countries. Membership in FCI offers CIT proximity and access to valuable information necessary to expertly analyze and evaluate the credit risk of foreign companies.

Can CIT help Asian manufacturers?

Yes. CIT has a Hong Kong office, operating as CIT Commercial Services (Asia), Ltd. Established in 1983, this office has the ability to factor and finance sales of Asian manufacturers selling to the United States and Europe. In addition to providing Asian manufacturers with the same comprehensive credit protection, collections, bookkeeping services and on-line information that CIT offers its clients based in the United States, this office also provides off-balance-sheet financing to companies with $10 million (US) or more in annual sales. It specializes in the textile, apparel, toy, housewares, furniture, and electronics industries.

How can I learn more?

For more information about how you can put the resources of CIT to work for your company, call (800) 248-3240 or e-mail us. We look forward to working with you.

Want a free price quote?

Fill out our on-line pre-application for a free price quote. Put the resources of CIT to work for your company today.