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Terms of payment

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Terms of payment


This type of operation are only possible via confirmed, divisible and irrevocable letter of credit issued by a leading trade bank, and subject to discrepancies for a term not exceeding seven (7) days, to be released (presented to the issuing bank) every Monday before 14:00 HRS (London Time), to recover the amount of the invoice that was generated between the preceding Monday and Sunday. Should the L/C not being a viable option, payment must be ensured with a confirming, factoring or a revolving deposit.

Banking fees and commission may be assumed by both parties in order to make possible the commercial relationship.


Financial terms are prepaid in USD or EURO plus 21% VAT for operators in Spain and the European Union.

If provider requires not to pay VAT, prepayments shall be transferred from non-EU countries, prior negotiation and signing of contract rates between operators.

Invoice delivery can be made upon receipt of each prepaid deposit or at week closing against real traffic carried.

Reconciliations of prepaid minutes will be held every week before the preparation of the invoice by Cuba Telecom. It should be taken into account some variations due to the different time zones of the servers involved in the operation, time frames sometimes ranging from -8 GMT and GMT +1.

At least once per month these reconciliations should be performed in order to detect extra differences. No claims for billing differences will be admitted after 30 days since the invoice was issued.

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