Protect Your Cash Flow and Reduce Risk on Latin American Receivables

Whether your company is just starting out or has an established clientele in the region, you need to be sure you receive payments as quickly and securely as possible.

You can request payment from your customers in one of the following ways:

• Payment on receipt of shipping documents sent to their bank through RBC documentary collection.
• A wire transfer in the currency of your choice—this ensures you receive quick payment that cannot be disputed.
• A draft or money order in the currency of your choice instead of a conventional cheque. You can convert the funds to Canadian dollars using RBC Foreign Exchange, or deposit U.S. dollars directly to your U.S. Business Deposit Account
• A letter of credit issued by the purchaser’s bank, to ensure that you are paid once you have shipped the goods according to the conditions of the letter of credit.

For very large or unusual transactions, ask your account manager to suggest ways to ensure you are paid.

If you are selling online:

• You can accept credit card payments in Canadian dollars—the card issuer will automatically convert these from each customer’s local currency. Moneris Solutions^‡ can enable you to accept credit card payments online.

RBC Express

Ninety-nine percent of our business is in exports around the world. One of the things that is attractive to me is how well RBC and EDC have products that dovetail to support my export efforts. Essentially, I have insurance on my receivables around the world. The level of cooperation and communication between RBC and EDC is quite astounding.

- Larry Gatien, President & CEO,
Roadware Group Inc., Paris, Ontario