Discusses the most common methods of payment, such as open account, letter of credit, cash in advance, documentary collections, factoring, etc. Includes credit-rating and collection agencies in this country. Includes primary credit or charge cards used in this country.
Last Published: 9/19/2019
As with any international transaction around the world, the method of payment is determined by the degree of trust in the buyer’s ability and willingness to pay.  Full payment in advance is highly recommended for the first few transactions/deliveries, and while the importer is still unknown. All regularly utilized methods of payment are common in Bulgaria.

The current Standard & Poor's credit rating for Bulgaria stands at BBB- with positive outlook. Moody's credit rating for Bulgaria was last set at Baa2, with a stable outlook. Fitch's credit rating for Bulgaria was last reported at BBB, with a stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Bulgaria thus having a big impact on the country's borrowing costs.  

Table 1:  A History of Bulgaria’s Credit Rating
AgencyRatingOutlookDate
FitchBBBpositiveAug 23  2019
S&PBBB-positiveJun 01 2018
S&PBBB-stableDec 01 2017
FitchBBBstableDec 01 2017
Source: http://www.tradingeconomics.com/bulgaria/rating
Entities like the U.S. EXIM Bank (www.exim.gov), and OPIC (www.opic.gov) have provided insurance policies and long-term guarantees to U.S. exporters to allow for more flexible payment terms.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.


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Bulgaria Market Access Payment