An Integrated Oil and Gas Multinational
Automated BRL* receivables and centralized liquidity management
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.
At a Glance
- The oil and gas giant distributes its lubricants across the country where it operates and requires broad coverage for local receivables. It decided to move part of its Boleto collections to J.P. Morgan to diversify its counterparty risk and benefit from full integration and visibility through J.P. Morgan Access®
- J.P. Morgan Brazil leverages a strategic network partner to provide the necessary wide local coverage and best-in-class service. Customers work exclusively with J.P. Morgan systems and personnel
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.
The J.P. Morgan Solution
Provide a BRL account in Brazil with Boleto receivables, H2H payments, and a USD account for the Brazilian entity to manage export proceeds.
Elisabete Marchesini, Brazil Treasury Services Coverage
- Automatic process using the company’s ERP with a pre-approved Boleto receivables file sent to the bank – no manual intervention.
- Automatic reconciliation for Boleto receivables.
- Full visibility of local and offshore accounts in J.P. Morgan Access®.
- Export funds can be received in USD, providing a range of investment alternatives and natural hedging.
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