International finance
CINAEX provides training and advice on the financial aspects of international trade, from choosing payment and collection methods and protecting against non-payment to managing currency risk and financing export and import transactions.
We help businesses and professionals understand the financial structure of a transaction, compare the available instruments and make informed decisions based on costs, risks and the specific circumstances of each transaction.
We help businesses and professionals understand the financial structure of a transaction, compare the available instruments and make informed decisions based on costs, risks and the specific circumstances of each transaction.
CINAEX provides training and advice on the financial aspects of international trade, from choosing payment and collection methods and protecting against non-payment to managing currency risk and financing export and import transactions.
We help businesses and professionals understand the financial structure of a transaction, compare the available instruments and make informed decisions based on costs, risks and the specific circumstances of each transaction.
We help businesses and professionals understand the financial structure of a transaction, compare the available instruments and make informed decisions based on costs, risks and the specific circumstances of each transaction.
Our guiding principle
A commercial contract specifies an amount, a currency, a payment method and a payment period. These terms carry a risk of non-payment for the exporter and potentially a currency risk for both the exporter and the importer. Either party may also need external finance: the exporter to fund production and the buyer to make payment.
These decisions should be considered together. Payment terms, protection against non-payment and currency risk, and financing arrangements should be defined before the contract is signed, as they directly affect the transaction’s security, cost and profitability.
These decisions should be considered together. Payment terms, protection against non-payment and currency risk, and financing arrangements should be defined before the contract is signed, as they directly affect the transaction’s security, cost and profitability.
Every international transaction involves interconnected financial decisions
The CINAEX approach
Our areas of expertise
01
How will payment be made?
CINAEX helps you understand the technical and legal framework underpinning international payments and collections, including the role of correspondent banks and correspondent accounts, the SWIFT messaging system and payment instruments. Depending on the transaction, we assess:
The choice takes into account the payment period, trust between the parties, bank charges, processing speed, each party’s negotiating power, country risk and legal requirements.
Outcome
An understanding of the available instruments and a recommendation on the payment or collection method best suited to the transaction.
CINAEX helps you understand the technical and legal framework underpinning international payments and collections, including the role of correspondent banks and correspondent accounts, the SWIFT messaging system and payment instruments. Depending on the transaction, we assess:
- Payment orders
- Direct debits
- Cheques
- Clean collections
- Documentary collections
- Documentary credits (letters of credit)
- Payment platforms
The choice takes into account the payment period, trust between the parties, bank charges, processing speed, each party’s negotiating power, country risk and legal requirements.
Outcome
An understanding of the available instruments and a recommendation on the payment or collection method best suited to the transaction.
International payments and collections
02
How can contractual obligations be secured?
Where the payment or collection method alone does not provide sufficient protection, additional instruments may be used:
The choice depends on the product or service, the parties involved, the amount, the payment period, the buyer’s country and the nature of the contractual obligations.
Outcome
A recommendation on the collection method and, where additional protection is needed, the most suitable instrument and how to combine it with the payment method and terms.
Where the payment or collection method alone does not provide sufficient protection, additional instruments may be used:
- Standby letters of credit
- Demand guarantees
- Contractual surety guarantees
- Export credit insurance
The choice depends on the product or service, the parties involved, the amount, the payment period, the buyer’s country and the nature of the contractual obligations.
Outcome
A recommendation on the collection method and, where additional protection is needed, the most suitable instrument and how to combine it with the payment method and terms.
Protection against non-payment
03
How can regulatory and documentation requirements be identified and potential obstacles minimised?
International payments and collections must comply with the requirements of the countries from which funds are sent and in which they are received. CINAEX helps you understand:
Where necessary, specialists in the relevant country’s regulations can be brought into the project.
Outcome
An understanding of the requirements to consider when structuring and documenting an international transaction, from the perspective of both the buyer’s country and the exporter’s country.
International payments and collections must comply with the requirements of the countries from which funds are sent and in which they are received. CINAEX helps you understand:
- The general principles of exchange controls worldwide
- The role of banks and other parties
- The relationship between the contract, payment and supporting documentation
- Statutory reporting and authorisation requirements
- The importance of properly documenting the transaction
Where necessary, specialists in the relevant country’s regulations can be brought into the project.
Outcome
An understanding of the requirements to consider when structuring and documenting an international transaction, from the perspective of both the buyer’s country and the exporter’s country.
Exchange controls
04
How could exchange rate movements affect the financial outcome?
Where receipts, payments or obligations are denominated in a foreign currency, exchange rate movements affect their value in the domestic currency and the profitability of the transaction. The analysis identifies:
Outcome
Recommendations on the currencies to use for the contract and financing, and on how to hedge all or part of the currency exposure.
Where receipts, payments or obligations are denominated in a foreign currency, exchange rate movements affect their value in the domestic currency and the profitability of the transaction. The analysis identifies:
- The amount exposed to currency risk
- When the exposure arises and how long it lasts
- The potential impact of exchange rate movements
- The most suitable currencies for the contract and financing
- Opportunities for natural and financial hedging
- The cost of protection
Outcome
Recommendations on the currencies to use for the contract and financing, and on how to hedge all or part of the currency exposure.
Currency risk and hedging
05
What financing does the transaction require?
Financing may be needed before delivery, after shipment or when the buyer is offered deferred payment terms. CINAEX assesses:
Outcome
Recommendations on the financing instrument or combination of instruments best suited to the export or import transaction.
Financing may be needed before delivery, after shipment or when the buyer is offered deferred payment terms. CINAEX assesses:
- Pre-shipment export finance
- Financing for deferred payment terms
- Import finance
- The relationship between the payment method and financing options
- The relationship between the invoice currency and the financing currency
- The potential use of instruments combining payment and financing functions, such as factoring, confirming (supplier payment services with optional early-payment finance) and forfaiting
- The cost of financing
- The selected instrument’s impact on risk and profitability
Outcome
Recommendations on the financing instrument or combination of instruments best suited to the export or import transaction.
Export and import finance
The CINAEX approach
Our areas of expertise
01
How will payment be made?
CINAEX helps you understand the technical and legal framework underpinning international payments and collections, including the role of correspondent banks and correspondent accounts, the SWIFT messaging system and payment instruments. Depending on the transaction, we assess:
The choice takes into account the payment period, trust between the parties, bank charges, processing speed, each party’s negotiating power, country risk and legal requirements.
Outcome
An understanding of the available instruments and a recommendation on the payment or collection method best suited to the transaction.
CINAEX helps you understand the technical and legal framework underpinning international payments and collections, including the role of correspondent banks and correspondent accounts, the SWIFT messaging system and payment instruments. Depending on the transaction, we assess:
- Payment orders
- Direct debits
- Cheques
- Clean collections
- Documentary collections
- Documentary credits (letters of credit)
- Payment platforms
The choice takes into account the payment period, trust between the parties, bank charges, processing speed, each party’s negotiating power, country risk and legal requirements.
Outcome
An understanding of the available instruments and a recommendation on the payment or collection method best suited to the transaction.
02
How can contractual obligations be secured?
Where the payment or collection method alone does not provide sufficient protection, additional instruments may be used:
The choice depends on the product or service, the parties involved, the amount, the payment period, the buyer’s country and the nature of the contractual obligations.
Outcome
A recommendation on the collection method and, where additional protection is needed, the most suitable instrument and how to combine it with the payment method and terms.
Where the payment or collection method alone does not provide sufficient protection, additional instruments may be used:
- Standby letters of credit
- Demand guarantees
- Contractual surety guarantees
- Export credit insurance
The choice depends on the product or service, the parties involved, the amount, the payment period, the buyer’s country and the nature of the contractual obligations.
Outcome
A recommendation on the collection method and, where additional protection is needed, the most suitable instrument and how to combine it with the payment method and terms.
Protection against non-payment
03
How can regulatory and documentation requirements be identified and potential obstacles minimised?
International payments and collections must comply with the requirements of the countries from which funds are sent and in which they are received. CINAEX helps you understand:
Where necessary, specialists in the relevant country’s regulations can be brought into the project.
Outcome
An understanding of the requirements to consider when structuring and documenting an international transaction, from the perspective of both the buyer’s country and the exporter’s country.
International payments and collections must comply with the requirements of the countries from which funds are sent and in which they are received. CINAEX helps you understand:
- The general principles of exchange controls worldwide
- The role of banks and other parties
- The relationship between the contract, payment and supporting documentation
- Statutory reporting and authorisation requirements
- The importance of properly documenting the transaction
Where necessary, specialists in the relevant country’s regulations can be brought into the project.
Outcome
An understanding of the requirements to consider when structuring and documenting an international transaction, from the perspective of both the buyer’s country and the exporter’s country.
Exchange controls
04
How could exchange rate movements affect the financial outcome?
Where receipts, payments or obligations are denominated in a foreign currency, exchange rate movements affect their value in the domestic currency and the profitability of the transaction. The analysis identifies:
Outcome
Recommendations on the currencies to use for the contract and financing, and on how to hedge all or part of the currency exposure.
Where receipts, payments or obligations are denominated in a foreign currency, exchange rate movements affect their value in the domestic currency and the profitability of the transaction. The analysis identifies:
- The amount exposed to currency risk
- When the exposure arises and how long it lasts
- The potential impact of exchange rate movements
- The most suitable currencies for the contract and financing
- Opportunities for natural and financial hedging
- The cost of protection
Outcome
Recommendations on the currencies to use for the contract and financing, and on how to hedge all or part of the currency exposure.
Currency risk and hedging
05
What financing does the transaction require?
Financing may be needed before delivery, after shipment or when the buyer is offered deferred payment terms. CINAEX assesses:
Outcome
Recommendations on the financing instrument or combination of instruments best suited to the export or import transaction.
Financing may be needed before delivery, after shipment or when the buyer is offered deferred payment terms. CINAEX assesses:
- Pre-shipment export finance
- Financing for deferred payment terms
- Import finance
- The relationship between the payment method and financing options
- The relationship between the invoice currency and the financing currency
- The potential use of instruments combining payment and financing functions, such as factoring, confirming (supplier payment services with optional early-payment finance) and forfaiting
- The cost of financing
- The selected instrument’s impact on risk and profitability
Outcome
Recommendations on the financing instrument or combination of instruments best suited to the export or import transaction.
Export and import finance
International payments and collections
Selecting the right financial solution
When preparing recommendations, CINAEX considers:
The aim is to develop a financial structure that serves the client’s interests as fully as possible, considering how the different instruments work together.
- The transaction’s structure and the parties involved
- The business’s sector and size
- The level of trust between the parties
- The amount, currency and payment period
- The exporter’s and importer’s negotiating power
- Bank charges and credit insurance costs, where applicable
- Financing requirements
- Currency risk
- Country risk
- Legal requirements
- Standard payment practices in the sector
The aim is to develop a financial structure that serves the client’s interests as fully as possible, considering how the different instruments work together.
Each transaction needs its own combination of instruments
Advice and training
Other areas of expertise
02
CINAEX designs corporate and academic programmes covering everything from the fundamentals of international finance to the analysis of complex international trade transactions.
A programme can cover the full range of subjects or focus on a particular topic:
The content is tailored to the sector, participants' existing knowledge and the organisation’s objectives.
A programme can cover the full range of subjects or focus on a particular topic:
- Documentary and non-documentary international payments and collections
- International guarantees
- Export credit insurance
- Exchange controls
- Foreign exchange markets and currency risk
- Export and import finance
The content is tailored to the sector, participants' existing knowledge and the organisation’s objectives.
Training
01
CINAEX analyses planned and ongoing international transactions.
Our work may include:
Our work may include:
- Comparing payment and collection methods
- Assessing the risk of non-payment
- Examining the potential use of guarantees and export credit insurance
- Advising on exchange controls
- Identifying and hedging currency risk
- Assessing financing requirements
- Preparing for negotiations with the counterparty, bank or insurer
Advisory services
About our role
CINAEX does not act as a bank, insurer or financial intermediary and does not provide financial instruments.
Our advisory role is to help clients understand the available solutions, assess their implications and prepare to choose the right instrument and work with a bank, insurer or other financial institution.
Our advisory role is to help clients understand the available solutions, assess their implications and prepare to choose the right instrument and work with a bank, insurer or other financial institution.
Independent expert support
Frequently asked questions
Yes. A consultation can focus on a payment or collection method, a guarantee, export credit insurance, an exchange control issue, currency risk or financing.
Yes. Provided the necessary information is available, CINAEX can analyse the transaction’s structure, compare potential financial solutions and make recommendations.
No. These services are provided by banks, insurers and other financial institutions. CINAEX offers independent support focused solely on your business’s interests, helping you choose the appropriate instrument and prepare to work with the relevant institution.
Yes. The content can be tailored to your sector, your company’s typical transactions, your organisation’s objectives and your team’s existing knowledge.
They depend on the complexity of your requirements, the amount of information available and the chosen format. The scope, timeframe and budget are agreed with your business.
NIF/CIF B79977294
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