Moving money out.
WHAT ROUTES TYPICALLY EXIST
A transfer arranged through your bank Documentary arrangements through banks Payment platforms, where permitted
WHAT TO ESTABLISH
What documentation your bank requires How long transfers take What the total cost is, including conversion What limits apply
WHY DOCUMENTATION MATTERS
Outward payments for imports are subject to regulatory requirements.
WHAT IS TYPICALLY REQUIRED
The form initiating the transaction The commercial invoice Evidence of the underlying trade
WHAT TO DO FIRST
Speak to your bank before committing to a purchase.
WHY
Discovering you cannot pay after ordering is a serious problem.
WHAT AN ADVANCE PAYMENT RISKS
Paying for goods that never arrive.
WHAT REDUCES THAT RISK
A documentary arrangement Partial payment structured against milestones Inspection before shipment Dealing with established suppliers
WHAT A DOCUMENTARY CREDIT DOES
Commits a bank to pay against specified documents.
WHAT IT PROTECTS
Both parties, to a degree: the seller is assured of payment, the buyer that documents exist.
WHAT IT DOES NOT PROTECT
Against goods that are not as described.
WHY
Banks examine documents, not goods.
WHAT TO ARRANGE FOR THAT
Pre-shipment inspection.
WHAT TO KEEP
Every payment record and the supporting documents.
