Cases
Paying for a crab shipment across three jurisdictions
ExportThree jurisdictionsFull document set
An exporter needed to receive payment for a crab shipment: the goods went to South Korea, while the contractual supplier was a Russian company.
The problem
- South Korea couldn't pay directly into Russia
- The country of actual shipment had no right to receive the contract payment
- Three jurisdictions were involved with no direct settlement between them
- A legal way was needed to receive the currency and pay the client
What we did
- Acted as the payment agent and a party to the settlement model
- Restructured the contractual logic with a third party involved
- Used a structure in Hong Kong to receive the currency payment
- Arranged the ruble payout to the client via non-resident infrastructure
The result
- The client received payment under the contract in rubles
- The payment from South Korea was accepted and processed
- All operations complied with the jurisdictions' requirements
- A full set of closing documents was prepared
Takeaway
When standard instruments can't complete a settlement, we build a working deal model that respects the jurisdictions, the contract structure and currency control.