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Non-documentary payments (clean payments) are payments that are not associated with a collection or letter of credit transaction. Clean payments occur in the movement of goods, services and capital.
The documentary payment transactions:
In foreign business, the seats of business partners are usually far apart. A direct transfer of goods is therefore not possible. So, a third party (forwarder) has to be turned on to bring the goods to their destination. Documents have the task of proving the proper handover of goods. These are papers that are issued in foreign trade in connection with goods transactions.
Documents provide a number of ways to secure delivery and payment. The vendor can communicate through them, e.g. prove that he has fulfilled his delivery obligation. Submitting documents can also trigger a specific payment.
Type, form and number of documents are agreed in the purchase contract.
The document collection:
A document collection is a form of payment processing and payment guarantee in which documents are handed to the debtor with the assistance of credit institutions
Payment of the equivalent value (documents against cash register) or
Acceptance of a bill of exchange (documents against acceptance)
A document collection is a train-and-pull business. The basis for the handling of documentary collections are the Uniform Rules for Collection (ERI) of the International Chamber of Commerce Paris (ICC).
For the purposes of the ERI, we classify Inkassi into simple collection and documentary collection.
Simple collections are shipments that only contain bills, bills, receipts, checks and similar papers.
Documentary collections contain, in contrast to simple collections, documents such as commercial invoices or loading documents.
The documentary credit:
If a domestic company wants to do business with a foreign company, but the partners are not or not sufficiently trustworthy, their interests are as follows:
The exporter is interested in the fact that his goods only change the owner (owner) if he actually receives the purchase price. The importer is interested in the fact that his money only comes into the hands of the exporter, if he comes into the possession (property) of the goods or of documents, which certify the rights to the goods.
The instrument that meets these security needs is documentary credit.
A documentary credit is a contractual obligation on the part of a credit institution, on behalf of a customer, to provide a specified cash payment or other financial benefit against the delivery of certain documents and under certain conditions. The documentary credit is abstract, ie completely separate from the purchase contract.
Foreign Guarantees – Benefit from a bank guarantee
You are involved in global trade with your company and are confronted in your daily business with questions about warranty and risk protection, be it as a service provider or as a service recipient. By issuing a guarantee in the form of a bank guarantee customary in cross-border trade, numerous risks can be hedged.
If your company has the appropriate credit rating, we assume the role of the guarantor for you and commit ourselves to indemnify your business partner against certain risks (depending on the respective Avalart).
Currency Management – Secure Against Currency Fluctuations
Anyone trading in international currencies in different currencies knows the potential consequences of unsecured currency positions.