Foreign Buyers of US Products

estorm export trading (EET) represents foreign buyers (end-users and applicants) in the vetting process required to secure ECA financing. 

As part of its vetting process, EET will:

• Conduct site visits of the foreign buyer’s business premise

• Ask that the Foreign buyers be in business for at least three years

• Review bank references and financial statements (which must be prepared by a recognized accounting firm) to ensure they meet ECA standards

• The vetting process is part of EET’s risk management and assurance service, which aims to reduce or eliminate risks associated with cross-border trade, and ensure that US suppliers receive timely payment in forms acceptable to them.

  • For example, US manufacturers are often reluctant to enter into business transactions with foreign buyers because of the risk of non-payment. They may also refuse to ship goods (even with letters of credit guarantees) due to the risk that those goods may be rejected at arrival in the foreign port for technical or other reasons.

• Correspondingly, the foreign buyer avoids issues of credibility:

  • EET negotiates all terms with overseas buyers (in most cases by visiting the buyer’s country or vice versa)

  • Explains the deal terms with the aid of local interpreters in the buyer’s language

  • Collects payment

  • Acts as U.S. Exporter of Record on behalf of U.S. suppliers.

  • Both parties look to EET as the obligor.