Discusses the most common methods of payment, such as open account, letter of credit, cash in advance, documentary collections, factoring, etc. Includes credit-rating and collection agencies in this country. Includes primary credit or charge cards used in this country.
Last Published: 6/27/2019

Trade financing options for imports to Albania have improved in recent years as the banking sector has further developed. The most commonly used international payment mechanisms to facilitate transactions include letters of guarantee and letters of credit, which are available through local banks.

Bank-to-bank trade financing alternatives can be structured with or without a letter of credit. Many importers regularly receive goods under a short-term supplier credit agreement. Importers are free to arrange payments through long-term supplier loans when making larger purchases. For transactions abroad, the most preferred forms of payment are letters of credit or payments in advance. The U.S. Export-Import Bank (Ex-Im) provides insurance policies to U.S. exporters to allow more flexible payment terms.

In August 2018, S&P affirmed Albania’s rating at B+/B with a stable outlook, while in September 2018, Moody’s maintained its rating for Albania’s government debt obligations at B1 with a stable outlook. Collection agencies have been established in recent years, including Tranzit Finance, a non-banking financial institution controlled by U.S.-based NCH Capital.
 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.