so i just got invoiced for the product from china!
DESCRIPTION
Canada’s reported year to date import value in Canadian dollars from the rest of the world comes to a mere $87,205,634,952 CAD Importers face many challenges when purchasing products internationally, the money movement is just one small piece of the whole process, yet has one of the highest impacts on the bottom line of the business. Ever changing currency markets affect the home currency value of the international product price. A wire transfer is just the ends to the means, how you get there is important! FX brokers help companies, individuals, small, medium large, multinationals, understand the currency exposure and risks, help with the Forex purchase by planning a strategy and then help wire transfer the funds to the international company. MTFX has been helping people move money and understand the markets since 1996. Address the risks, assess your budgets. Let's talk.TRANSCRIPT
HOW DO THE CURRENCY CHANGES AFFECT AN IMPORTER?
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YOU HAVE A GREAT NEW PRODUCT L INE COMING SOON!
That new top of the line model, your inventory, machines, or product being shipped in from international sources takes time to come to arrive in Canada.
From the time of order, products go through many gateways, boats, planes, trains, trucks and vehicles just to get into the hands of the end consumer before the business is even able to realize profits on the end product sale.
ARE YOU AN IMPORTER WITH PRODUCTS TO PURCHASE OVERSEAS?
Canada’s reported year to date import value in Canadian dollars from the rest of the world comes to a mere
$87,205,634,952 CAD
That’s a lot of money being sent outside of Canada for products being sold to Canadian households and businesses.
What are import companies doing to help protect themselves from the ever changing currency market?
What is your company doing to address FX risk?
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FX RATES ARE EVER CHANGING AND ALWAYS MOVING
Moving money is easy right?What are some things you need to consider when buying or selling a currency?
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HAVING YOUR OWN PERSONAL FX BROKER IS HAVING PEACE OF MIND
Importers, exporters and companies that conduct business internationally make decisions on profitability that are dependent on future transactions.
There is a significant possibility that the price of foreign currency will fluctuate during this term.
Small changes in currency rates can cost a business thousands of dollars in lost revenue.
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CURRENCY RISK CAN ADVERSELY AFFECT YOUR PURCHASING POWER
Foreign currency exposure can significantly erode your profitmargins.
If your company conducts business internationally,you’re probably exposed to foreign currency exposures thatcould mean thousands of dollars in currency loss.
To be successful at mitigating these risks you must be able tomanage three specific types of exposures 1. Quotation exposure 2. Backlog exposure 3. Billing exposure
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THE LIFECYCLE OF AN INTERNATIONAL INVOICE
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WHAT CAN YOU DO TO ADDRESS THE EVER CHANGING MARKETS
One thing IS certain when you are dealing with overseas purchases is the fact that the currency markets are ever changing, and always moving. First and foremost, understand where the trends are, what are the rates of today, what are the expectations and hedge your risks.
Your product will always cost the same in the international currency, but what does affect the price is the payment in your home currency that you need to make to the international provider for your invoices.
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WHAT CAN YOU DO TO ADDRESS THE EVER CHANGING MARKETS
Address your invoices to your FX team at T1, there are suites of products tailored just for you and work on a plan together to get the best product combinations that address your cash flow, your budgets and your risk tolerance.
10Hindsight is always 20/20
WHAT ARE MY OPTIONS FOR A TRADE
SPOT Trades – Process a trade at the daily rate when there is no time to wait. A trade done today.
MARKET Orders – Looking to manage the volatility in the foreign exchange markets? Market Orders allow you to choose a target rate for you to sell or purchase currency. You set the rate and your order will fill at the very moment the currency reaches your rate.
FORWARD Contracts – Instead of letting the markets determine your financial future, forward contracts can help you with the certainty and protection you need. You are able to lock in a rate for the purchase of a currency up to a maximum of 12 months. Forward contracts help protect you against the risk of market fluctuations without having to commit cash flow to buying a currency in advance. This is a great tool that allows you to take advantage of favourable exchange rates for future requirements. It also allows you to know what your foreign exchange rate will be well in advance!
11Hindsight is always 20/20
ASSESS YOUR RISKS, ADDRESS YOUR BUDGETS
Hedge your risk, take control of your payments, know in advance what you will be spending on your product.
Hedge or dollar cost average your trades to get the best benefit of the ever changing markets.
Utilize the forward contracts at time of contract to know what your end product price will be. Don’t put all of your eggs in one basket either! Taking your trades out in increments helps with the ever changing markets.
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MTFX ALLOWS YOU TO MAXIMIXE YOUR CASH FLOW
What are your needs? Let’s talk
1. Far better exchange rates
2. Secure against rate fluctuations
3. Hedge and mitigate your exposure
4. Work with a team that meets your needs
5. Conversion into a range of currencies
6. Fast, efficient payments
MTFX is One of the Largest Foreign Exchange Delivery Providers in Canada