Minoo Corporation represents Alexander Fraser & Son Ltd. in Ontario & Québéc. Frasers is a venerable trade finance company which was established in 1885 in London, UK.
Frasers specialize in paying for your worldwide purchases getting the best prompt cash discount available for you – then giving you credit terms to allow you to sell the goods before repayment to them.
If you are in the markets mentioned above and import goods from overseas to sell to your customers, you will undoubtedly have a need for additional funds, due to :
- Challenges by your bank with increasing your borrowing limit
- You have peak buying seasons which create cash flow “spikes”
- Your turnover is increasing, necessitating the need for additional working capital
- Your overseas suppliers may require payment by irrevocable letter of credit (L/C), which restricts the availability of your Bank overdraft lines, as Banks often “margin” your banking facility for the Letters of Credit they open on your behalf. Using the facility provided by Frasers, frees up your Banking facility to be used as you might require it to be used.
- Your suppliers may require a 20 to30% advance cash deposit, whereas you could request Frasers to open, on your behalf, an L/C for 100% of order value, to save you interest and ensure shipment on time, without risk. Alternatively, Frasers can wire transfer funds to your supplier for the balance due, against shipping documents.
Your suppliers may give a cash discount to you for prompt payment made by Frasers on your behalf, which may cover all or part of your costs to Frasers, plus the 30-60-90-120 days terms granted to you by Frasers allows you to sell the goods before reimbursing Frasers.
- You need a “safety valve” to fall back on, to cover unforeseen cash-flow requirements