Required Trade Documents
Most Mauritanian importers finance their transactions through irrevocable and confirmed letters of credit issued by local banks. The bank transfer system is also used when necessary, but this process can cause delays and is subject to the availability of foreign exchange in the bank of the importer. Some Mauritanian importers hold bank accounts abroad (France, Spain, Switzerland, or other Arab countries), allowing them to pay for their goods without involving local banks. Since the exchange system was liberalized, most small-scale imports are now paid for in cash and the foreign exchange is then converted in exchange offices or the parallel market. There are no credit-rating or collection agencies in Mauritania.