UAE-Armenia

Payment

This page provides an overview of the secure payment methods, common currencies, and typical payment terms for trade transactions between the UAE and Armenia.

Payment Methods

For transactions between the UAE and Armenia, several secure payment methods are available to ensure smooth and reliable trade exchanges. These include wire transfers (SWIFT), letters of credit (LC), and open account transactions. Many businesses opt for letters of credit to guarantee payments, while others use secure online payment gateways.

Both nations prioritize safe and transparent payment processing through reputable banks and financial institutions to mitigate risks and protect both parties in the transaction.

Get in touch for more details.

Currency

The common currencies used in trade between the UAE and Armenia are the Emirati Dirham (AED) and the Armenian Dram (AMD). While the AED is often preferred for transactions initiated by UAE-based businesses, the AMD is widely accepted for local payments within Armenia.

Currency exchanges between these two nations are facilitated through banks and foreign exchange providers, with exchange rates subject to market fluctuations.

Payment Terms

Typical payment terms for trade between the UAE and Armenia range from 30 to 60 days of credit, depending on the agreement between the trading partners. These terms allow for greater flexibility in managing cash flow while maintaining a reliable payment schedule.

Frequently Asked Questions (FAQ)

How can I ensure my high-value items are securely shipped to Armenia?

To ensure the security of high-value items, focus on the following factors:

Insurance: Purchase cargo insurance to protect against loss or damage.

Packaging: Use high-quality, secure packaging to prevent damage.

Tracking: Choose a shipping method with tracking capabilities and monitor your shipment closely.

Freight Forwarder: Work with a reputable freight forwarder who specializes in high-value items.

What is the process for clearing customs in Armenia?

The process involves the following steps:

Submit required documents such as the commercial invoice, bill of lading, and packing list.

Pay any applicable import duties and VAT as determined by Armenian customs.

Be prepared for potential inspection of your goods by customs authorities.

Consider hiring a customs broker to assist with the clearance process.

What are the typical transit times for sea freight from the UAE to Armenia?

There are generally no direct sea routes to Armenia, so cargo will first go to a nearby port like Batumi (Georgia) or Klaipeda (Lithuania) before being transported overland to Armenia.

The overall transit time is usually between 4 to 8 weeks, including sea transport and overland transit.

What are the options for express shipping to Armenia?

For express shipping, consider the following:

Air Freight: Provides the fastest shipping option with transit times of 2 to 4 days.

Courier Services: Major international courier companies offer express services with quick delivery times.

Special Services: Some logistics providers offer express services for urgent or high-priority shipments.

Are there any specific regulations for shipping electronics to Armenia?

Armenian regulation may require you to get safety certifications or compliance with specific standards. It also includes providing accurate documentation, including invoices and technical specifications.

For more details, Check Armenian regulations for importing electronics.