Imports can be seen with a pessimistic eye, when we think about anticipated values, long deadlines and bureaucracy, or with an optimistic look when we see imports as an opportunity for growth and differentiation of the company in the market.
In general, compared to purchasing operations in the domestic market, we can say that imports demand:
Development of partners and not just suppliers;
Development of logistics links with an adequate level of service and not just companies that move and store import cargo;
Tax, financial and fiscal planning;
Have control over costs and look for the best batch that can dilute fixed and minimum import costs;
Cash flow management with special attention to the flow of tax and supplier payments;
Hard work studying the tax classification and detailed description of goods.
In an import process, the PDCA methodology (Plan, do, check and act) is strongly present.
In this material, we will pay special attention to import payments.
What are the payment methods for imports?
The payment methods for imports are:
In advance of production – before production begins;
In advance of shipment – before loading the goods at the exporter’s location;
Cash – after production and before shipment of goods;
By Term – after shipment of goods at the (air) port of origin.
What are the types of import charges?
The types of import charges are:
- Direct Shipment of Documents – when the exporter sends the documents directly to the importer or another designated representative;
- Documentary collection – when the exporter sends the documents via a bank;
- Letter of Credit – when the transaction documents are presented to a bank guaranteeing the transaction.
How are international payments made?
International payments are made as in the domestic market, through a financial remittance, when the importer requests a payment order from the exporter, located abroad.
However, there is the particularity of using a bank or exchange office that can operate with exchange, which is the instrument for formalizing the payment remittance.
The currency used internally is the real, taking into account the total amount in foreign currency, that is, the importer pays the bank in Brazil in reais and it transforms the value into the negotiation currency and sends it to the exporter.
How is supplier payment made upon import?
Payment to the supplier refers to the value of the goods, represented by the EXW value, that is, goods in the supplier's factory.
Payments can be made by:
- Exchange contract;
- Credit card;
- Account abroad.
The importer will have to enable the existing account in the domestic market to pay suppliers abroad or open a new account at another Bank or Exchange House.
The following expenses are generated with payments to suppliers:
- Exchange contract – amount that banks and exchange houses charge to formalize the operation;
- Spread – exchange rate difference that is the bank’s gain;
- Other fees like Swift.
These values are freely negotiated between the importer and the Bank and Exchange House.