Repatriate export proceeds to your account in roubles
Proceeds under an export contract must reach your account at a Russian bank. We select an agent from our pool who will accept the currency from your foreign buyer and credit roubles to you. If the money is already stuck, we look for a lawful solution and have a lawyer review it before the deal.
- 3 business days
- to credit roubles after the currency arrives
Estimate the minimum fee
The final fee and rate are fixed in the payment order
Minimum amount: 10,000 USD or equivalent
- Fee rate
- from 0.4%
- Fee
- from 100 USD
- To be credited (equivalent)
- up to 24,900 USD
This is a minimum, not an offer or a rate lock. The final figure depends on the country, amount and the banks involved and is fixed in the payment order.
Request a quoteThe repatriation requirement in plain words
A Russian exporter must receive the proceeds under a foreign trade contract into its own account at a Russian bank. The deadline for receipt comes from the contract. This is what the repatriation requirement means.
The bank that services your contract matches shipments against receipts. If the money has not arrived by the deadline, it will ask for explanations and documents. Breaches carry fines, so tell us about a delay right away, not on the last day.
How a receipt through an agent meets the requirement
The foreign buyer transfers currency to the agent under your agency agreement, and the agent credits roubles to you. For the bank to count these roubles as proceeds under the contract, it needs the full chain of papers: the agency agreement, the payment order, the buyer's payment document and the agent's report. We assemble it.
Which proceeds can be repatriated
Money under export contracts of Russian companies and sole proprietors. Payment for shipped goods, in one tranche or in parts. Prepayment, if the contract provides for it. Payment for work and services: development, licenses, consulting, maintenance, where the contract describes them. Regular receipts from one buyer go under one agency agreement, each with its own payment order.
We do not take on payments without a foreign trade basis or transfers from private individuals. If the contract, buyer or country fails our checks, we'll tell you before any documents are signed. How we prepare the deal papers is described on the Documents page.
When proceeds are stuck abroad
The buyer is willing to pay, but the money does not reach Russia. Most cases have a lawful instrument. A lawyer decides which one suits you before the deal.
The buyer's bank will not release the transfer
It has refused to pay to Russia or has returned the money. We look for an agent in our pool whose details this bank accepts now. You issue the buyer a new invoice with the agent's details.
Your previous agent has closed the route
Your agent has stopped accepting currency from the buyer's country. We move the deal to another agent in the pool and set out the new details and terms in a separate payment order.
Assignment of claim (cession)
Under an assignment agreement, you transfer the right to demand payment to another company. That company settles with you, and the buyer pays it. This works when the buyer cannot transfer money to your details.
Change of payer
A third company pays instead of the buyer. You, the buyer and the payer sign an agreement, and the transfer refers to your export contract.
The repatriation deadline is close
We check whether the money can arrive by the contract date. If not, we'll advise what to show the bank and how to agree a new payment date with the buyer.
How we work through stuck proceeds
The review starts with where the money is now and what the bank has said. The order is always the same, but each deal gets its own solution.
Where the money is
You send the contract, the invoice, your correspondence with the buyer and the bank's response, if there was one. We see at which step the payment stopped.
Options
We match the cause with the instruments: another agent, assignment of claim, change of payer, a new deadline. We rule out anything that does not fit the law or the country.
Lawyer
A lawyer reviews the chosen structure before anything is signed. If there is no lawful way, we say so and go no further.
Papers with the parties
We prepare the agreement with the buyer or the new payer, the agency agreement and a payment order with the rate and fee.
Roubles and a report for the bank
The agent receives the currency and credits the roubles. You receive a package that links the receipt to your contract.
What it costs
from 0.4%
minimum fee for repatriating proceeds
The final fee depends on the currency, the buyer's country and bank, the amount and the chosen route. For stuck money, we calculate it after the review. The figure and the rouble exchange rate go into the payment order before the currency is sent to the agent. You pay us nothing: the broker's fee is paid by the executing agent.
- from 10,000 USD
- minimum per receipt, or the equivalent
- Review
- of stuck proceeds, at no separate charge
- 3 business days
- to credit roubles after the currency arrives
Already receiving proceeds through an agent?
Tell us what the agent charges or send us the report for a past transfer. We'll recalculate the full price with the exchange rate and fixed charges and look for a lower rate in our pool. If we can't find one, we'll say so.
Documents for repatriating proceeds
What we need from you
- The export contract and its addenda.
- Invoices and shipping documents.
- The response from the buyer's bank, if the transfer has already been returned.
- The date by which the proceeds must arrive under the contract.
What you keep
- The agency agreement and a payment order with the rate.
- An assignment or change-of-payer agreement, if that route is chosen.
- The agent's report on the roubles credited.
- A package for the bank where the contract is registered.
Questions about repatriating proceeds
The contract deadline has almost expired. What should we do?
Tell us and your bank right away. We'll advise how to agree a new payment date with the buyer and which papers to show the bank while the money is on its way.
How will the bank know that the roubles from the agent are my proceeds?
From the chain of documents: the agency agreement, the payment order, the buyer's payment confirmation and the agent's report. All of them refer to your export contract.
Our proceeds are already stuck. Will you take this on?
Tell us where the money is and what the bank said. We'll propose a lawful route: another agent from our pool, an assignment of claim or a change of payer. A lawyer reviews the structure before the deal.
What is an assignment of claim (cession), in plain words?
You transfer to another company the right to receive payment under the contract. That company settles with you, and the buyer then pays it. We use this when the buyer cannot pay you directly.
How much do we pay VEDmost?
Nothing separately. Our fee is paid by the executing agent, and the payment order shows you a single fee: the agent's.
Can you decline?
Yes, if the contract, buyer or country fails our checks, or there is no lawful route. We tell you this before any documents are signed.
Request a quote
Describe the deal: the buyer's country, currency and amount. 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 the buyer pays.