DOING BUSINESS IN MEXICO James R. Jensen , CCE International Business Credit Consulting [email protected] REMEMBER! U S LAWS STOP AT THE BORDER U S CUSTOMS STOP AT THE BORDER HOW WE DO BUSINESS HERE DOES NOT NECESSARILY DICTATE HOW WE DO BUSINESS THERE. BASIC BUSINESS DIFFERENCES
Any payment obligations executed in Mexico may be agreed to in US Dollars. However, under the Mexican Monetary Law all payment obligations to be made in Mexico must be payable in Mexican pesos at the exchange rate dictated by the Mexican Central Bank at the time that the obligation is fulfilled.
NACM-Mexico provides credit and financial professionals with opportunities for networking, education, and opportunities to advance and improve all aspects of credit risk management through meetings, seminars, communications and publications. NACM-Mexico provides a forum for the exchange of ideas and training for senior credit and finance executives in domestic and international credit, trade finance and risk management.
Department of Commerce section has a service which can do an investigation for you which might be helpful on larger accounts.
U S CHAMBER OF COMMERCE
Excellent source of information and leads for credit insurance, legal help, investigations, etc.
(As in the United States, a clear differentiation exists in the rules applicable to security interests on real from those applicable to personal property)
Prenda. Personal property may be used as collateral in Mexico, including, equipment, accounts receivable and stock. A pledge (“prenda”) may be contractually granted by the debtor in favor of the secured party. Generally, a pledge must be very specific in its identification of the items that will serve as collateral for a specified debt.
NOTE: Information on real and personal property was taken from a memo by Alberto de la Pena, an attorney with the Haynes & Boone law firm in Dallas, TX. Alberto is licensed to practice in both the US and Mexico and has been an excellent source of information as well as legal work. In addition to their office in Dallas, they also have office throughout Texas and in Mexico City.
You may contact him at:
The Export-Import Bank of the United States (Ex-Im Bank) - the official export credit agency of the United States - supports the purchases of U.S. goods and services by creditworthy international buyers that cannot obtain credit through traditional trade and structured finance sources. Ex-Im Bank does not compete with private sector lenders but provides products that fill in the gaps in areas of trade and structured financing. The Bank assumes country and credit risks that the private sector is unable or unwilling to accept, and helps to level the playing field for U.S. exporters by matching the financing that other governments provide to their exporters. In more than 70 years of operation, Ex-Im Bank has supported more than $400 billion of U.S. exports to international markets.
Ms. Xiomara CrequeBusiness Development 811 Vermont Avenue, N.W. Washington, D.C. 20571 1-202-565-3477
Daniel T. CrockerCommercial ConsulU.S. Consulate General - Monterrey, MexicoTel: 011-52-81-8343-4450Fax: [email protected]://www.buyusa.gov/mexico/en
$ 500 $750
$ 750 $1,500
$ 1,000 $2,500
Claims may be filed no earlier than 90 days after the due date, and no late
than 240 days after the due date.
Claims are paid within 60 days of receipt of all required documents (faster
when filed on-line).