Montenegro - Country Commercial Guide
Trade Financing
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Methods of Payment

Large importers regularly receive goods under short-term supplier credits that average about three months.  Longer-term financing may be sought for larger purchases but is more difficult to obtain.  The following instruments are used in Montenegro for payments abroad: remittances, documentary collections, checks, and letters of credit.

Foreign Exchange Controls

There are no currency or payment restrictions related to the use of the Euro in Montenegro.

US Banks & Local Correspondent Banks

There are no U.S. bank affiliates in Montenegro.  The Addiko Bank has some U.S. ownership in its structure through Advent International.  Several banks in Montenegro (currently CKB, Erste Bank, NLB, Hipotekarna Bank, and Addiko Bank) have a correspondent relationship with U.S. banks.  In 2014, Citibank was one of three banks that underwrote Montenegro’s first and second tranches of public debt financing through the issuance of $529 million in Euro bonds, while in 2020, the Ministry of Finance issued a $793 million bonds on international markets to service maturing debt, with around 20 percent purchased by U.S. investors.

For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide.

To access Montenegro’s ICS section on financing, visit the U.S. Department of State Investment Climate Statement website.