An Integrated oil and gas multinational that explores, produces and delivers energy. Its subsidiaries in Latin America also produce a range of automotive and industrial lubricants.
For reconciliation purposes, one of company’s requirements was to obtain details of their receivables using Boleto.
Additionally, it needed full visibility over its accounts, including USD, EUR and BRL, as well as a bank partner in Brazil with strong counterparty risk.
Boletos are the main receivables instrument in Brazil. They are a paper slip with a bar code and unique 44-digit ID code, which provides efficiency when reconciling incoming payments.
J.P. Morgan Boleto collection leverages a wide country footprint through a partnership with one of the largest local banks in Brazil. This is carried out on behalf of the client, who only faces J.P. Morgan.
Provide a BRL account in Brazil with Boleto receivables, H2H payments, and a USD account for the Brazilian entity to manage export proceeds.
"With a harmonized receivables centralization process combining J.P. Morgan’s BRL Boleto solution and a NY USD clearing account for export proceeds, the company’s team is able to use J.P. Morgan Access® and manage their receivables flows, increasing visibility and control."
J.P. Morgan is the marketing name for the Treasury Services business of JPMorgan Chase Bank, N.A. and its affiliates worldwide.
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The products and services described in this document are offered by JPMorgan Chase Bank, N.A. or its affiliates subject to applicable laws and regulations and service terms. Not all products and services are available in all locations. Eligibility for particular products and services will be determined by JPMorgan Chase Bank, N.A. or its affiliates.
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Details of FAIS Ombud
Office of the FAIS Ombudsman
Name: The Ombud for Financial Services Providers
Postal Address: PO Box 74571, Lynnwood Ridge, 0400
Telephone number: 012 762 5000 / 012 470 9080
Facsimile number: 012 348 3447
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For Brazil: Ombudsman J.P. Morgan: 0800-7700847 / firstname.lastname@example.org