My cousin has a small business and has some US and Canadian buyers. Both of these have requested adjustments in the way they pay their invoices to allow for the increase in the Euro against both their currencies. One, the Canadian has requested that he can calculate his own currency loss against the euro since e.g. 1 June 08 and have the equivalent proportional reductions in his euro downpayment. The US guy requests that he pays downpayments in instalments with the full balance due by 31 Oct 09.
While my cousin wants to keep doing business with these guys he is confused as to whether he should agree to either requests or indeed which would be the lesser of two evils so to speak.
No good on this currency stuff myself. Anyone any advice that can be passed on please?
While my cousin wants to keep doing business with these guys he is confused as to whether he should agree to either requests or indeed which would be the lesser of two evils so to speak.
No good on this currency stuff myself. Anyone any advice that can be passed on please?