The vehicles are for use in one of that country’s major cities. The terms of the two-year contract will see payments spread over two years. Bills of Exchange will be payable at 6 monthly intervals. This arrangement allows the exporters to get paid on shipment and the buyers to spread the cost over two years.
TAEFL was approached to resolve the situation. After examining the options, a business case was made to a bank experienced in trade with the Middle East. Successful negotiation of the funding from this source has enabled the Saudi sale to proceed. The $6 million turnover now available to the vehicle manufacturer is proving an important factor in the company’s proposed re-structuring arrangements
