Class 06 - How to export? Financial Instruments for the Exporter
2021-12-052024-11-02export costa rica class 06 how financial instruments exporter
export costa rica class 06 how financial instruments exporter
Welcome to this sixth class on the bases of the export process in Costa Rica. On this occasion, I will give a brief introduction to the financial and banking instruments available for conducting international business transactions.
SWIFT (Society for Worldwide Interbank Financial Telecommunications
This international organization It provides the service to banks around the world to make transfers to other banks internationally. The support for this technology is satellite communication and when a SWIFT instruction is received, a bank accesses a local account. This service offers the following advantages:
1.Security through a private network.
2.Covers: Transfers, letters of credit, guarantees and collection management.
3.Reach more than 200 countries and more than 7000 financial entities worldwide.
LETTER OF CREDIT (import and / or export)
Agreement that allows payment to a BENEFICIARY through an ISSUER (financial institution). Said payment is requested by a customer. The letter of credit constitutes a guarantee between the EXPORTER and IMPORTER, guarantees that the IMPORTER will make the payment, and guarantees that the EXPORTER will deliver the goods. It is important that the agreement includes the IRREVOCABLE condition, otherwise there will be no such guarantee.
COLLECTION (import and / or export)
It constitutes and allows the shipment of the instructions internationally to a financial institution abroad to manage the collection and delivery of documents to the importer.
COLLECTION (import and / or export)
It constitutes and allows the sending of the instructions internationally to a financial institution abroad
GUARANTEE OF PARTICIPATION
Commitment assumed by a financial entity in Costa Rica to pay a specific amount of money in case the client defaults with the obligation contracted. This specifically is a guarantor of participation in the process or transaction that is being carried out.
COMPLIANCE GUARANTEE
Commitment assumed by a financial entity in Costa Rica to pay a specific amount of money in case the client defaults with the obligation contracted. This specifically is a guarantor of compliance with all the terms of the international transaction.
INTERNATIONAL TRANSFER
This instrument allows a financial institution to make the payment in favor of a beneficiary (physical or legal) by mandate of another financial entity located in another country. This exchange of money can be given from Costa Rica to another country or vice versa.
GIRO ABROAD
It is basically a check issued by a financial institution in the country to be used as international payment.
DIRECT CORRESPONDENT ENTITIES
Corresponds to the existence of agreements between entities different countries to facilitate international transactions.
* All restrictions apply. Services and conditions may change without notice.
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Class 04 - How to export? Export of small quantities
Welcome to this fourth class on the bases of the export process in Costa Rica. This time, I will go into practical matters and explain how you can export a rela
Class 04 - How to export? Export of small quantities
Welcome to this fourth class on the bases of the export process in Costa Rica. This time, I will go into practical matters and explain how you can export a rela
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Class 01 - How to export? Introduction
If you are a small or medium-sized entrepreneur, it is very likely that you have considered at some point the possibility of taking your products or services to
Class 01 - How to export? Introduction
If you are a small or medium-sized entrepreneur, it is very likely that you have considered at some point the possibility of taking your products or services to
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Class 05 - How to export? INCOTERMS
Welcome to this fifth class on the bases of the export process in Costa Rica. Now if we enter into legal terminology, this time I will expose the incoterms (con
Class 05 - How to export? INCOTERMS
Welcome to this fifth class on the bases of the export process in Costa Rica. Now if we enter into legal terminology, this time I will expose the incoterms (con
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Class 07 - How to export? Strategy design
Welcome to this seventh class on the bases of the export process in Costa Rica. The topic that I will deal with today will be the collection or gathering of inf
Class 07 - How to export? Strategy design
Welcome to this seventh class on the bases of the export process in Costa Rica. The topic that I will deal with today will be the collection or gathering of inf
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Class 03 - How to export? Before i start
Welcome to this third class on the bases of the export process in Costa Rica. On this occasion we continue with the preparations and requirements prior to the e
Class 03 - How to export? Before i start
Welcome to this third class on the bases of the export process in Costa Rica. On this occasion we continue with the preparations and requirements prior to the e
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EXPORT IN COSTA RICA
These are the articles available in section EXPORT IN COSTA RICA of our web site TODOENTRANSPORTE. Click on any of the links to see each article in detail. If
EXPORT IN COSTA RICA
These are the articles available in section EXPORT IN COSTA RICA of our web site TODOENTRANSPORTE. Click on any of the links to see each article in detail. If
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• CODE: TOPIC_TT_010 | • RELEASE DATE: 2021-12-05Author
