In Credit Today's recent Benchmarking Survey on International Credit Reporting, we asked respondents for any advice they might have for newcomers to the International credit world. As we reviewed the responses, we realized that, despite the fact that the question asked for advice for "newcomers," what was passed on was extremely important for ANYONE selling internationally.

Credit is often simply adhering to the basics, which is often easier said than done. Constant vigilance is always the watchword in our profession. And if you think the basics aren't important, check with bank shareholders these days.

Whether or not you're new to International credit or not, here are some words of wisdom that are worth paying attention to:

"Know your customer and country, ask lots of questions, establish good solid terms and if it doesn't look right ask for cash in advance or a standby by letter of credit to support the transaction."
- Patrick Spargur, Corp. Credit & Collections Manager, Bally Technologies

"Opening up a non-email dialogue with the customers is very helpful. Skype video calls bring that face-to-face element in as well."
- Harris Semegram, Director of Credit, Prestige Brands Holdings, Inc.

Utilize banks and other instruments of credit to manage risk and receivables. Be proactive and do not wait. Hesitation can make a huge difference from non-collection to being paid in full."
- Daryl Lawson, Billing Credit & Collections Manager, Squire Sanders & Dempsey

Look at country risk even more than individual company risk."
- James Albetta, Credit Manager, Ansell Healthcare

"Stick to reputable bank letter of credits and wire transfers. Use credit insurance if financial information is unavailable."
- Ken Zanolini, Director of Credit, F Rodgers Insulation

"However costly, get multiple reports or information."
- Andrew Keefer, Credit Manager, Orthovita, Inc.

"Don't believe everything you read. Financial information is notoriously overstated and unaudited."
- Megan Kinsler, Credit Manager, Merisant

"Learn that country's banking system and political environment -- then get an LC if comfortable."
- Brian Good, Sr. Manager: Credit and A/R, PUMA North America, Inc.

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