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10 International transactions and curren... > Single Euro Payments Area Direct Deb... - Pg. 154

154 FInAnCIAl MAnAGEMEnT FoR non-FInAnCIAl MAnAGERS Intra-group trading Subject to the laws, regulations, taxation implications and accounting conventions of various countries, it might be possible to net off debit and credit balances on intra-company trading so that only net balances are paid. This will reduce foreign exchange exposure and transaction costs. However, it can be a minefield of taxation and other regulations; beware of falling foul of them. Export invoice finance Many banks offer a range of export invoice finance facilities. For example: Up to 85 per cent of an export finance invoice can be made available the working day after billing. This can help a company offer open terms to an overseas customer, helping it compete with local