Because it is important to know your business associates, as well as the importance of the risk, BBVA offers you easy and documentary remittances, a product that is used when there is already some degree of confidence between the economic agents. Thus, it allows you to reduce the commercial and financial risks inherent to your international activity. The exporter trusts in the importer's capacity to fulfill the agreed payment dates, and the importer trusts that the exporter will carry out the shippings on the stipulated dates.
In export remittances, the customer (exporter) entrusts BBVA with the collection of financial documents (promissory notes, checks, bills) and/or commercial documents (invoices, transport documents and other).
In the import remittance, BBVA is represented by a foreign bank to present/deliver documents to the importer against payment in cash, in installments or acceptance for payment on a future date.
The purpose of using it is:
- to obtain payment and/or accept documents;
- to deliver documents against payment and/or against acceptance;
- to deliver documents required by other terms and conditions.
Subordinate to uniform rules on collections (URC522), published by the International Chamber Of Commerce, Paris.