Your bank checks a payment made through an agent the same way as a direct one: what was paid for, to whom and on what basis. For every deal through an agent from our pool, we prepare the documents banks ask for and check them against your contract. You don't pay separately for this.
What your bank is asking
We'll show which document answers it
Agreement and payment order
The agency agreement and the payment order: the order carries the number and date of your contract and invoice, the subject of payment, the amount, the rate and the fee.
Discuss the dealPayment confirmation
After the currency is sent we provide a payment confirmation, and a SWIFT confirmation on request.
Discuss the dealAgent's report and certificate
The agent reports what was sent, to whom and when. The report matches the payment order and the invoice.
Discuss the dealChecked before payment
We'll review the contract before payment and flag it if it needs registering with your bank.
Discuss the dealThe agency agreement, the payment order and the agent's report show the bank the whole path: from your account in Russia through an agent from our pool to the beneficiary. The basis for the payment is the same everywhere: your contract and invoice.
The contract number and date, the amount, the currency and the purpose of payment match across the payment order, the confirmation, and the agent's report and completion certificate. We look for discrepancies before the roubles are debited, not after the bank asks.
The deal documents are part of our work. The broker's fee is paid by the executing agent, and you pay the agent's fee set in the payment order.
Your bank checks every transaction with a foreign counterparty. A mistake in the paperwork costs more than it seems.
The bank suspends the transaction and asks for explanations and documents. The supplier waits for the money, and the shipment is pushed back.
If the basis for the payment is not supported by documents, the bank may refuse. The payment then has to be put together again.
Breaching the procedure or deadlines for submitting documents on currency transactions leads to fines for the company and its officers. The amount depends on the violation and the sum involved.
If the contract is registered with the bank, the bank checks every payment against it. Amounts and grounds that do not match the contract have to be explained.
After a disputed transaction, the bank looks more closely at the company's new payments. Each subsequent invoice gets stricter checks.
Currency control is carried out by your bank under the rules of the Bank of Russia. The tax authority also checks currency transactions, including through data from banks. The bank checks whether the payment has a foreign trade basis and whether the documents match one another.
When you pay through an agent, the obligations under the contract remain yours. The bank needs to see that the contract has been paid, who sent the money to the beneficiary and on what basis. This is exactly what the agency agreement, the payment order, the payment confirmation, and the agent's report and completion certificate show. The full list is on the Deal documents page.
If the contract amount exceeds the threshold set by the Bank of Russia, the contract is registered with your bank. The bank assigns it a unique contract number (UCN) and checks payments and deliveries against it. Your company registers the contract. We will tell you what to check in the contract before the first payment through an agent and provide the payment documents so the data matches the registration.
The bank assigns each currency transaction to a type by code: payment for goods, payment for services, advance payment and others. The code is chosen according to what stands behind the payment. If the code, the purpose of payment and the documents say different things, the bank asks questions.
In the payment order and the agent's documents, the purpose of payment matches the contract and the invoice. If your bank asks you to state the code, we will suggest how to choose it based on the agency agreement. The bank makes the final check of the code.
We prepare the documents for the deal we handle. Your company's currency control as a whole is run by your accounting team together with your bank: records of all contracts, document submission deadlines, supporting documents for deliveries, reporting on other payments. For exporters, deadlines for crediting the proceeds are added to this.
The documents are put together along with the payment, not after it.
Before the payment, we check that the parties, the subject, the amount, the currency and the details match. We flag it if the contract needs to be registered with the bank.
The payment order carries the contract and invoice numbers and dates, the subject of the payment, the amount, the rate and the fee. All of this before the roubles are debited.
Once the currency is sent, we send you a payment confirmation, and a SWIFT confirmation on request.
The agent reports what it sent, to whom and when. The report matches the payment order and the invoice.
You receive the set for currency control and accounting. If the bank asks questions about this deal, we help you answer.
No. We prepare the documents for the deal we handle through an agent from our pool. Records of all contracts, deadlines and company-wide reporting stay with your accounting team and your bank.
The obligation depends on the contract and its amount. Paying through an agent usually does not remove it. We will tell you what to check in the contract; your bank will give the exact answer for your contract.
The code depends on what stands behind the payment: goods, services, an advance. We will suggest one based on the contract and the agency agreement. Your bank makes the final check of the code.
We provide the deal documents: the agency agreement, the payment order, the payment confirmation, and the agent's report and completion certificate. If explanations are needed for this deal, we help prepare them.
You pay nothing separately. The deal documents are part of our work, and the broker's fee is paid by the executing agent. You pay the agent's fee under the payment order: from 0.9% for paying a supplier, from 0.4% for repatriation of export proceeds.
Yes. For repatriation of export proceeds, the set is similar: the agency agreement, the payment order, confirmation of the buyer's payment and the agent's report on the roubles credited.
Describe the payment. We'll reply with a proposed route and terms. We name the agent in advance, and the rate and fee go into the payment order before your roubles are debited.