Cases
Paying for marketing in China when only dollars would do
Services & marketingChina
A Russian company paid for marketing services in China, but the supplier couldn't open an account with the client's bank — and its own bank could only accept US dollars.
The problem
- Payments used to go through the client's bank, but the supplier couldn't open an account there
- The supplier's bank only accepted payments in US dollars
- A direct dollar payment from Russia wasn't available
What we did
- Proposed a dollar route and calculated the final cost before the operation started
- Accepted the rubles from the client once the terms had been agreed
- Issued the payment to the supplier along the agreed route
- Formalised the operation under an agency agreement
The result
- The funds reached the supplier, and the crediting was confirmed
- The final cost matched the calculation agreed before the operation started
- The payment went through along the agreed route, and the supplier confirmed receipt
Takeaway
A supplier's currency being inconvenient for the client doesn't have to make the payment more expensive: the dollar route was calculated and agreed before the operation started.