All exporters are highly concerned with receiving payment for shipping goods to customers abroad. However, when dealing with international sales contracts, there is more to consider than simply sending an invoice.
As one of the co-owners and founders of Exportspark Services Inc., a Canadian company that provides virtual training and advisory services for international trade to businesses and economic development agencies, I was invited to participate in Export Development Canada’s (EDC) March webinar titled “Understanding the intricacies of global contracts.”
The webinar emphasized the significance of well-crafted contracts and the inclusion of appropriate Incoterms to mitigate risks in global business and effectively expand one’s company. After the hour-long discussion, we received numerous inquiries from the attendees regarding revenue recognition and its relationship with the chosen Incoterms. In this article, I will share my expertise on this matter.
Learn more here: https://www.edc.ca/en/tradeinsights.html