Brazil Methods of Payment
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Imports in Brazil are primarily handled using traditional letters of credit (L/C) or collections through established banks with correspondent banking agreements overseas. To a lesser extent, U.S. exporters may choose to operate on an open account or cash in advance basis once they have established a trustworthy relationship with their Brazilian buyers. Note: given high interest rates and intermediary spreads, Brazilian buyers are likely to push for an open account or cash up front. CS Brazil highly recommends that U.S. companies work with the U.S. Export-Import Bank (EXIM) insurance or guarantees to ensure payment).