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Methods of payment in international transactions in Russia
27.11.2013

Methods of payment in international transactions in Russia



The Embassy of Colombia held a lecture of Center Experts on "Methods of payment in international transactions in the Russian Federation". <br><br>As part of the lecture InCLaRC experts highlighted the issues of financial instruments which may be used by Russian partners in payment of import, including:<br>- The norms of Russian legislation relating to letters of credit , bankguarantees and other mechanisms and their implementation;<br><br>- Exchange control issues that need to be observed when working with Russian companies;<br><br>- International Convention's regulation of contracts of sale and payment on them; <br><br>- International unified instruments of CC, including the UCP 600 (UniformCustoms and Practice for Documentary Credits, 2007), Uniform Rules for Collections (URC 522 , 1995), Uniform Rules for Demand Guarantees (ICC 758, 2010), as well as their practical application in Russia and abroad


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