Source: https://rivet.global/blog/ecuador-exporters-collecting-from-spain-and-us-buyers
Published: 2026-10-04 · Updated: 2026-10-04 · By Rashidatou K.

# Ecuadorian exporters collecting from buyers in Europe and the US

Ecuadorian shrimp, banana, flower and cacao exporters sell to Europe and the US. How buyers pay, terms that protect perishable cargo, and bringing proceeds home on time.

## Key takeaways

- European buyers often pay in euros; US buyers in dollars.
- For perishable exports, advance payments and documentary terms protect the exporter better than open account.
- Euros received need converting to dollars, Ecuador's currency; the timing of that conversion affects margins.
- Export proceeds generally need to reach Ecuador within the legal period to avoid the ISD presumption.

A Cayambe rose farm ships to wholesalers in Amsterdam, Madrid and Miami every week ahead of Valentine's Day and Mother's Day. The flowers are worth nothing after a week. The buyers pay in euros and dollars on 30-day terms. In a bad season, one late payer can wipe out the margin on its orders.

## How buyers pay

- European buyers in the Netherlands, Spain, Italy and Germany often pay in euros by international transfer. Some pay in dollars.
- US buyers pay in dollars, by wire or ACH.

Euros must eventually become dollars, Ecuador's currency. Whether the buyer's bank converts or yours, someone takes a margin, on a date you may not choose.

## Terms for perishable cargo

Open account terms put all the risk on the exporter, after the goods have perished or been sold. Safer structures:

1. Advances for new buyers, at least for the first orders.
2. Cash against documents, where the buyer gets the shipping documents only after paying.
3. Letters of credit for large or uncertain buyers.
4. Credit limits per buyer, reviewed each season.

## Bringing proceeds home

Ecuadorian law presumes that export proceeds not entering Ecuador within the legal period have left the country, which can make them subject to the ISD. Plan to bring export revenue into Ecuador within the deadline, except where an exception clearly applies.

## Faster US payments

US buyers asked to wire dollars to an Ecuadorian account often batch foreign wires. US account details in the exporter's own name let them pay by ACH, as they pay domestic suppliers, and the money arrives in full.

## Paying into Ecuador: the local rail

| What | Detail |
|---|---|
| Local rail | Sistema de Pagos Interbancarios (SPI) |
| Run by | Banco Central del Ecuador |
| Settlement | Within the business day, in US dollars |

Source: [Banco Central del Ecuador: sistema de pagos](https://www.bce.fin.ec/). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

A Rivet business account accepts registered companies after verification, including Ecuadorian companies. Approved companies get US account details in their own name on every plan and euro details with an IBAN from the Growth plan, so buyers pay locally, and can pay out to their Ecuadorian bank to repatriate proceeds on time. Rivet is not a bank; regulated partner institutions hold the funds.

## Questions

### How do European buyers pay Ecuadorian exporters?

Often in euros by international transfer, sometimes in dollars. Euro payments are converted to dollars at some point, by the buyer's bank or yours.

### What terms work for perishable goods?

Advances for new buyers, cash against documents for regular ones, and letters of credit for large or uncertain buyers.

### Do I need to bring export proceeds into Ecuador?

Ecuadorian law presumes that export proceeds not entering Ecuador within the legal period have left the country, which can trigger ISD. Plan to repatriate within the deadline.

### Why do US buyers pay late?

International wires often need extra approvals at US companies. US account details let them pay by ACH.