How to Pay a Foreign Supplier from Russia

Paying a foreign supplier requires not only having bank details but also correctly executing the entire foreign trade transaction. Russian banks conduct mandatory document verification, assess the operation’s economic purpose, and compliance with currency legislation. If documents are prepared in advance, the probability of successful payment passage increases significantly.

1. Sign the foreign trade contract

Before payment, a contract with the foreign company must be executed. The contract must include:

• parties to the transaction;
• subject of supply;
• payment currency;
• payment order;
• delivery terms;
• performance timelines.

If the contract amount exceeds the legislatively established threshold, the contract must be registered with the bank.

2. Obtain the invoice

The invoice is the basis for transferring funds. It must include:

• seller and buyer details;
• number and date;
• reference to the contract;
• description of goods or services;
• payment amount and currency.

Any discrepancies between the contract and invoice may lead to additional verification.

3. Prepare supporting documents

Depending on the nature of the transaction, the bank may request:

• specification;
• packing list;
• transport documents;
• commercial offer;
• correspondence with the supplier;
• documents confirming business relationships.

The more transparent the transaction, the faster the bank verification is.

4. Verify the counterparty

Before payment, it is recommended to ensure that the foreign company:

• exists indeed;
• is not under sanctions;
• uses its own bank account;
• corresponds to the information specified in the contract.

Such verification helps reduce the risk of bank refusal to conduct the payment.

5. Correctly fill out the payment order

The payment purpose must include:

• contract number and date;
• invoice number;
• brief delivery description;
• if necessary—the UNK number.

Insufficiently detailed payment purpose is one of the most common reasons for requesting additional documents.

What to check before sending the payment

• The contract is signed by both parties.
• The invoice corresponds to the contract terms.
• Supplier’s bank details have been verified.
• The payment amount matches the invoice.
• The payment purpose is correctly filled out.
• Additional documents have been prepared for the bank request.

Preparing a full document package before submitting the payment order allows significantly shortening verification times and reducing the risk of international payment refusal.