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: 8/26/2019

The most secure means of payment are cash in advance or irrevocable letters of credit.  However, many Guatemalan imports are financed through short term (typically 60-day) lines of credit. Generally, these are extended directly by the U.S. exporter to the Guatemalan importer.
This method of financing is usually only available to large importers and long-term clients. The larger Guatemalan importers frequently have their own source of capital abroad, which can be used to finance or to leverage financing for imports such as Exim or OPIC. U.S. exporters should exercise caution when extending credit, the pursuit of claims against Guatemalan firms for lack of payment can be time-consuming and costly.

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