Formal reporting for business is less strict and thus it is more difficult to ascertain the real financial position of a counterparty. Australian banks can also add confirmation to letters of credit from Middle East-based banks, eliminating then both buyer and country risk. Credit insurance is an alternative to protect open account receivables if the credit insurer is comfortable with your counterparty. Your bankers should be your first port of call in order


to finance sales into the Middle East. They can provide guidance and support for your export sales, so it is recommended to contact them early in your negotiations. Many projects in the Middle East will require bid bonds


and performance bonds to support applications. Again, contact your bank, but also consider the services of the Export Finance & Insurance Corporation (EFIC), which specialises in supporting project work offshore. For over 50 years the Australian Institute of Export


has assisted more than 15,000 exporters to ensure that these mistakes are avoided. The Export Procedures & Documentation Course provides practical information presented in a concise format to provide participants with current facts, regulations and advice on exporting tangible products from Australia. Whether you’re considering the export option or


upgrading your industry skills in export, you will greatly benefit from the expert industry presenters. The course covers: export procedures and documentation, packaging, export finance and payment, insurance, customs, contract negotiation, terms of trade/ Incoterms and practical case studies on export documentation. For further information on the short courses run by the


Australian Institute of Export, please visit the website: www.export.org.au


Lisa McAuley, Peter Mace, Dianne Tipping Australian Institute of Export


AUSTRALIA AND THE ARAB COUNTRIES | 2010 55


The University of Melbourne has a 150-year history of leadership in research, innovation, teaching and learning.


It is ranked number 6 in the world for the employability of its graduates*


For further information contact: Ms Pauline Nunan Regional Manager, Middle East pnunan@unimelb.edu.au


*Times Higher Education-QS (THE-QS) 2009 World University Rankings


CRICOS 00116K


www.unimelb.edu.au


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