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: 11/21/2019

The most common methods of payment are: a) cash (since most Dominican companies maintain dollar accounts abroad) by electronic/wire transfers, b) supplier credit (once a trading relationship has been established), c) documentary letters of credit including stand-by letters of credit, d) documentary collections through the banking system, and e) commercial credit cards, however, it is recommended that U.S. firms accept these credit cards with caution because of the possibility of fraud.
 
The following local firm performs credit checks on Dominican companies:
 
Transunion
Address: Ave. Abraham Lincoln No. 1019
3rd Floor, Ens. Piantini
Santo Domingo, Dom. Rep.
Tel: 809/ 227-1888
Fax: 809/ 549-7227
Transunion Website 
E-mail: consumidor@tucredito.com.do
 

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