February 07, 2019

Reduce Risk of Non-Payment From New Automation Customers

Brian Clifford discussed how a letter of credit can help reduce the risk of a new automation customer not paying or performing as desired in an article with Control Engineering
"Letters of credit are widely available from banking institutions worldwide, have relatively low maintenance costs to the company obtaining the letter of credit, and can provide payment security to the other party (for payment for its services and deliverables for the integrator, or for protection from defaults from the customer) as the parties work together to establish other long-term credit arrangements or to build trust based on positive historical experiences."brian clifford, control engineering

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