COA Industry Solutions (COAIS) provides our overseas clients with available, low-cost financing options to accord them highly flexible payment terms for our heavy duty equipment. We have excellent relationships with several financial institutions, which uniquely positions us to coordinate desirable arrangements on all equipment purchases. The advancement of our credit facilities utilizes the financial institution that provides trade financing to overseas companies that purchase from COAIS.
Pre-requisites for our trade finance:
- Present and past financial statements
- Introductory letter from your bank demonstrating your credit worthiness
- Commercial bank references
- Credit Report
- At least 2 years business operational history
COACG will notify you if additional documentation will be required.
Available financing options:
We provide goods or services to your company, and agree to accept payment from your company at a later time, usually 30+ days and not exceeding 180 days after you receive the goods or services. Amount involved can run from $100,000+.
How does selling on open account (open credit) work?
- We agree to export goods or services to your company, and we extend open credit to your company for an agreed period of time, for example 40 days.
- We ship the goods or provide the services to your company as agreed.
- 40 days or less after receiving the exported goods or services, you will make complete payment. If your company fails to make the agreed payment by the due date, we will begin to charge interest on it as indicated in the contract.
Letter of Credit
You and COAIS contractually agree that you will import our capital goods to your company for a particular price. You obtain a Letter of Credit from your local bank, which will guarantee that COAIS will receive payment for our the capital goods you are buying from us.
Here in the United States, our bank assesses the your Letter of Credit and forwards it to us.
We export the purchased goods or services to you as originally agreed in the contract. Then we submit the documents to our bank as proof that we have provided the goods or services to your company.
Our bank sends the shipping documents to your bank for processing of payment.
After confirmation, your bank sends payment on complete balance to our bank.
Our bank receives the payment in full from your bank and credits our account.
Our financing with this term can run from 1 to 7 years with amount up to $10 million+. Our customers might be required to make 15% + down payment in some situations.
Benefits of our credit finance:
- Fast application process
- Single digit interest rate
- Minimal down payment requirement
- Availability of open account financing
- Low cost of funds
- Helps to improve customers profitability
We help you open doors to trade financing. Contact COA to learn more.