National Penn can help you open up a world of opportunity through our comprehensive array of international products and services - whether you’re importing or exporting and regardless of whether you’re a novice or a veteran. Our goal is simple: to help you increase your international sales and profits while reducing your risk. National Penn Bank’s International Group is committed to providing you with solutions to meet your international financial needs.
Our mission is to deliver high quality international products with personal, flexible and creative service while contributing to the profitability of the Bank, in a responsible and ethical manner.
Payment Methods
The payment method is an important consideration in international trade. There are several methods of payment available. However, the most desirable method depends on whether you are the buyer or seller:
The level of desirability directly corresponds to the amount of risk of non-payment implied by the payment method. For example, the buyer has no risk in an “open account,” but in a “cash in advance” transaction, the buyer relies completely on the seller to ship the proper goods. The buyer also assumes the political and economic risks in the latter situation. On the contrary, the seller assumes no risk with “cash in advance” terms, but relies completely on the buyer to pay the account as agreed and assumes political and economic risks in an “open account.” A buyer and seller should take the following into consideration when selecting a payment method: the seller’s experience with the buyer, the buyer’s credit worthiness, and conditions in the buyer’s country which could interfere with their remittance of payment.
Getting Started
National Penn is dedicated to helping you grow through international trade. You will receive personal attention from our professional staff. Our partnership will help you hurdle obstacles to international trade by providing a variety of services designed to help you increase your sales and decrease your risk.
By working closely with your company, we can deliver solutions that address your company's specific needs. We encourage you to bring your export or import needs to us early on in the negotiations for competitive, effective financing and services.
