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: 4/5/2019

Credit is the most common method of payment used for Zambian imports.  In general, Zambian companies find it difficult to finance their own imports and seek credit arrangements, but businesses considering offering their exports on credit should make a very careful check of the bona fides and finances of Zambian companies before doing so.  Delinquent payments (even from government-owned companies) to suppliers are a common problem in Zambia.  The cash-in-advance payment method is advisable, especially when dealing with small companies.  Credit Rating Agency Limited (CRA) is one of the few companies in Zambia that is authorized by the Securities and Exchange Commission (SEC) and approved by the Lusaka Stock Exchange Limited (LuSE) as a Designated Financial Advisor to SMEs.  The CRA was licensed in September 2014 to provide corporate rating and financial advisory services to institutions in Zambia.

Zambia has a few debt collection companies that include Zambia Attorney Collection, Inc., Bulwark Debt Collection Agency, and Incasso Partners. The primary credit or charge cards accepted in most hotels, restaurants, travel agencies, and stores are Visa cards.  Most banks have automated teller machines that accept Visa more than MasterCard or American Express.

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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