Ivorian cocoa and cashew exporters: payment terms with buyers abroad

Côte d'Ivoire supplies a large share of the world's cocoa and cashew nuts. Buyers in Europe and Asia pay against documents under strict contracts. For small and mid-sized exporters, the details of terms and documents decide how quickly cash comes back.

Rashidatou K.Payments editor

Published: 28 October 2026
Reading time: 1 min read

A San-Pédro cashew exporter sells raw nuts to processors in Vietnam and India. Its biggest buyer pays against documents: when the bill of lading, quality certificate and weight certificate reach the buyer's bank and match the contract, payment follows. Last season a mismatch in the weight certificate held $186,000 for three weeks.

Cocoa: a regulated chain

Cocoa sales in Côte d'Ivoire run through a system regulated by the Conseil du Café-Cacao, with forward sales, licensed exporters and set farm-gate prices. Contracts with international buyers follow trade association rules. Payment terms are standardised, and documents drive them.

Cashew: more varied buyers

Cashew is sold mostly as raw nuts to processors in Vietnam and India, with growing local processing. Terms vary:

cash against documents,
letters of credit for new or large buyers,
advances in some contracts.

Documents are the payment

Banks and buyers pay against documents. A discrepancy delays or stops payment:

Bill of lading matching the contract.
Commercial invoice.
Certificates of origin, quality and weight.
Phytosanitary certificate.

Check every document against the contract before presenting it.

Repatriation

Proceeds must come back to Côte d'Ivoire within the WAEMU deadline. Delays on the buyer's side can collide with it, so follow up quickly.

Where Rivet fits

Rivet is not a bank and does not issue letters of credit. Ivorian exporters receive proceeds through banks under WAEMU rules. Where available, partners abroad who bank with Rivet can pay Ivorian bank accounts through Rivet's payouts. Regulated partner institutions hold Rivet customers' funds.

See letter of credit explained.

Questions people ask

How is cocoa sold from Côte d'Ivoire?

Through a system regulated by the Conseil du Café-Cacao, with forward sales and licensed exporters, under international trade association contract rules.

How do cashew buyers pay?

Often cash against documents or under letters of credit, with an advance in some cases.

What documents trigger payment?

The bill of lading, commercial invoice, certificates of origin, quality and weight, and phytosanitary certificates, matching the contract.

How can exporters reduce non-payment risk?

Work with known buyers, use letters of credit with new ones, and check that documents match the contract exactly.

Sources

Written by

Rashidatou K.

Payments editor

Rashidatou writes Rivet's guides to how money moves between countries: the payment rails, what each one costs, and the account details a company needs to get paid in another currency. Every figure in Rashidatou's articles is traced to the scheme rulebook, the regulator or the provider's published price list, and those sources are listed at the end.