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Foreign trade products: security in the collection

The attached table provides a classification of financial products according to the certainty of payment collection they offer.

We will look at each of them in detail, examining the most important points of each product.

Comparativa Medios y Seguridad en el cobro
Documentary Credit High
Stand-By Letter of Credit High
International Guarantee High
Virtual PoS Terminal High
Documentary Remittance Medium
Banker’s cheque Medium-Low
SEPA Debit Medium-Low
Simple Remittance Low
Transfer Depends on when payment is made
Personal cheque Low

Before developing each product, it is important to know that the majority of Foreign Trade operations are processed by banks using the Swift system (Society for Worldwide Interbank Financial Telecommunication). This platform is internationally renowned for its agility and security.

Any operation issued or received via Swift will generate a message that can be used as a confirmation that the operation has been carried out.

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