The role of banks in the logistics chain

2024 August, 29

“Cargo owners are focused on ensuring that their cargo reaches its destination smoothly. However, one factor that is often overlooked is bank payments, which can cause significant delays in the arrival or collection of the cargo,” says our CEO Žilvinas Urbonas.

 

To help you avoid unexpected banking problems, we recommend:

• Have all the necessary documents ready, including contracts, orders and other cargo documents.
• Prepare before the transaction: make sure that all parties involved in the transaction are the ones who actually make the payments.
• Check partners thoroughly: especially when working with companies in the CIS region, check your business partners against sanctioned lists.

 

Taking these steps before transactions can save you time, money and avoid unnecessary headaches.