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 ILC What is it?

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Susan Bellman

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PostSubject: ILC What is it?   Thu Jun 11, 2009 10:52 am

I just read something about an "International Line of Credit" what is that? and how is it used in developing a product?

Thanks

Susan
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Andrew Havlicek



Location : Cincinnati, OH

PostSubject: ILC What is it?   Thu Jun 18, 2009 4:52 pm

Hello Susan,

An International Line of Credit is defined as a promise by a bank in one country to guarantee payment for goods originating from another country. Essentially, it's the mechanism a company uses in order to buy goods from foreign countries; it's basically a loan from the bank that a company must repay.

It has nothing to do with developing a product. There are no means for an individual (without significant collateral - in the hundreds of thousands of dollars range) to be approved for an ILC; it is a tool used by large, established companies to buy large ($100,000+ or even $1,000,000+) amounts of inventory. When you have a developed product, ready to be produced for market, a well-established company can be contracted to buy your manufactured product from an overseas producer (commonly using their international line of credit).

Regards,
Andrew
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Susan Bellman

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PostSubject: Re: ILC What is it?   Sun Jun 21, 2009 12:11 pm

Thanks Andrew. I don't think I'm there yet, but maybe one day.

Susan
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