CREDIT IN DIFFERENT COUNTRIES

Ashburton Guardian, Volume VII, Issue 1918, 14 August 1888, Page 3

CREDIT IN DIFFERENT COUNTRIES

| « In Australia a credit of clx months i* generally al.owud In Asia Miner a credit of hut two or three woeks m moat case) all s tl at Is allowed. In Italy but little credit buelneus Ib done, and none without good security being given. la Franca a four months' acceptance is rf quired to ba Bent In settlement of the invoice. In Cuba the time fixed for payment is yf.nera!ly from four to five months after delivery of the goods. la the B armadas aconunts are set led but, once a year. The 30 hof Judo is the day usually fixod for the payments. la Auatiln it Is BOftrooly poesible to do business without allowing a very long credit, which fe nearly always one of six months. In England a payment of the price of goods delivered Is required at the end of three months, dating from the day of shipment. In Turkey even objaots of prime neces> Btty are sold on oredlr, and In this country aa well as m Russia, the time allowed is m most oases 12 montha. In Spain four fifths of the transactions are done on a cash basis, while In Portugal great liberality Is shown, and quite a long credit is usually allowed. la China it 1b not customary to give credit. Money is obtained from landeis, who exact an Interest of from 18 to 12 per cent. Baalne3a is nearly always conducted upon a oaeh basis la Mexjco the large onmmerolal houeei are wl ling to give credit of from six to eight months, and In the retail trade longer terms are glv< a ouetomers Id which to settle their accounts. la Canada sett'emonta are made at the end of thirty day?, with a discount of 5 per oeDt. Sometimes a oredlt of from three to six months is allowed, but In this owe there is no di6ooant. Tha Oonsul-Ganeral of the United States itt Rio states that one of the greatest drawbaoks to oomanelolal intercourse with Bmall lloa Ua ih« omttmiiiy of allowing too long a eradii, At Bit, as a Buenos Ayscs, mlulrauai orocttt is sfz montfca In Costa Rica a or ad it of from six to twelve months is given m case of mer ohandiae imported from Europe, m order that the goods may be. easily and quickly disposed of. But since this system of oredlt has often led to losses, it is now being given up. In Germany the credit system is very widespread. The purchasers m settling their accounts are generally roach longer than m France and England. Nearly every commercial manufacturing branoh of buaineSß has its own particular terms of credit, and there la no uniformity m this respect.