Invoice offsetting (credit notes

Question

Hi guys
We owe our local Brazilian agent money for travel expenses (approx. $10k USD) and he is chasing for payment. We have requested that he offsets this against an invoice for goods we have supplied (approx. £140k USD). He’s stating that Brazilian law doesn’t allow this (our previous agent allowed it). Is this correct?
Thanks in advance

Answer

Hi Nick,

Certain offsets are not allowed under Brazilian foreign currency regulations.

Feel free to contact me if you want to chat about making payments to and receiving funds from Brazil.

James

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