Means of payment in Algeria

Collection

For all collections the Algerian party must direct debit the operation 30 days before the B/L date, as well as paying in 120% of the invoice amount for any products intended for direct resale.

Exports to Algeria

  • Documentary credit:
    irrevocable and optionally confirmed. This is the safest form of payment collection. It is subject to internationally accepted ICC rules and the rules of the Bank of Algeria.
  • Collections:
    collection management of commercial documents with the purchaser by a bank in Algeria. This is more flexible and less costly than documentary credit, but does not guarantee collection. These are generally remittances with sight payment.
  • Transfers:
    transfers are allowed for collecting operations for imports of goods and services, according to the Financing Law of 2017.

Payment

Imports from Algeria

  • Documentary credit:
    irrevocable and optionally confirmed. This is the safest form of payment.
  • Documentary remittance:
    collection management of commercial documents with the purchaser by a Spanish bank. Often with an effect payable at 360 days.
  • Simple transfer:
    common payment and collection method.