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  • 1.  new company with foreign parent - prepaid credit card options and/or Cross Corporate Guarantee (CCG) template

    Posted 01-08-2025 11:22 AM

    Hello,

    Happy New Year!

    I have a client who is a newly established US subsidiary of an Italian parent company (not newly established).  A crucial vendor has made it difficult for them to establish a relationship with the sub due to the brand-new aspect.  The vendor wants either payment by credit card or possibly a Cross Corporate Guarantee (CCG) with the parent guaranteeing the sub.  

    -Is anyone aware of prepaid credit cards that would be available to them?  Signing individual would be Italian.

    -Does anyone have a CCG template they could share?  They have received one from the vendor but wanted something to compare it to.



    ------------------------------
    Mary Sherman
    CPA
    MARY SHERMAN, CPA
    Hicksville NY
    516-433-3734
    ------------------------------


  • 2.  RE: new company with foreign parent - prepaid credit card options and/or Cross Corporate Guarantee (CCG) template

    Posted 01-09-2025 12:46 AM

    If they seller will accept payment by credit card, maybe they will accept payment by wire transfer,,,  many foreign parties are used to that and that may resolve the issue



    ------------------------------
    Howard Silverman
    Enrolled Agent
    silvermantaxconsult@gmail.com
    516-302-5455
    ------------------------------



  • 3.  RE: new company with foreign parent - prepaid credit card options and/or Cross Corporate Guarantee (CCG) template

    Posted 01-09-2025 04:22 PM

    Wire transfer is how they intended to pay and that would seem to be preferable to credit card.  I can see why they would like the CCG (from their perspective, why not have both companies on the hook), but I don't really understand their asking for a credit card.

     

     

    Beschrijving: logoprint MSH CPA logo only

     

    Beschrijving: logoprint ball only

    Mary Sherman, CPA, CGMA

    Hicksville, NY 11801

    Tel: (516) 433-3734

    Email: msh@maryshermancpa.com

    Web: www.maryshermancpa.com

     

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