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Financial settlements with suppliers
Financial settlements with suppliers
Financial settlements with suppliers
Solutions for international payment for goods and services
PROSCO organizes multi-currency settlements (RUB, GBP, USD, EUR, CNY) with China, the EU, India, South Korea, Japan and other regions, helps you choose the right way to structure a deal, and avoid financial losses when settling with foreign suppliers and buyers. Settlements are carried out through international financial institutions, including Hong Kong and India, under agency or supply agreements.
PROSCO organizes multi-currency settlements (RUB, GBP, USD, EUR, CNY) with China, the EU, India, South Korea, Japan and other regions, helps you choose the right way to structure a deal, and avoid financial losses when settling with foreign suppliers and buyers. Settlements are carried out through international financial institutions, including Hong Kong and India, under agency or supply agreements.
- help you carry out efficient business negotiations
- provide support at the stage of contract signing
- help you familiar with local regulations and business features
- check the deal-making for compliance with INCOTERMS
- work under agency or supply agreements
- support repatriation of export currency proceeds
- Letter of creditThis is a safe type of settlement which is most often used for international transactions. Both participants are insured against a insecure transaction. The bank of buyer acts as a guarantor of the performance of the payment transaction and takes responsibility for paying money to the supplier and for transferring the goods and services to the buyer in accordance with the agreement. The deal-making is performed via the letter of credit which is an account opened with the bank that makes it possible to reserve the money until all the conditions of the contract are met.
- FactoringFactoring is another reliable way of deal-making. It's usually used in case of deferment of payment condition. Current assets are recovered at the expense of the intermediary bank or the factoring company which acts as the third participant of transaction. The supplier receives money from an intermediary who receives the right to money claim to the buyer with quick reimbursement of the money. The bank or factoring company receive fee from the supplier and regulates any further money issues acting as a guarantor of the deal-making.
- Export agencies protectionExport agencies protect the Russian exporters and their banks against the risk of the foreign buyer’s failure to make payments. Local exporter can choose insurance of individual contract or entire volume of contracts concluded with foreign supplier on a deferred-payment basis. In this case insurance agencies act as guarantors for the deal-making and insure Russian exporters against the business and political risks of the foreign buyers’ failure to fulfill their obligations. EXIAR is the largest Russian export insurance agency.
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