Discusses the most common methods of payment, such as open account, letter of credit, cash in advance, documentary collections, factoring, etc. Includes credit-rating and collection agencies in this country. Includes primary credit or charge cards used in this country.

Guyana’s economy operates predominately as a cash economy; however, for international business transactions, wire transfers and bank-to-bank transfers serve as the most common form of payment. Guyana is in the process of passing legislation regarding electronic transactions.  

Credit remains uncommon in Guyana.  The World Bank's Strength of Legal Rights Index assesses the degree to which a country's collateral and bankruptcy laws protect the rights of borrowers and lenders and, thus, facilitate lending.  The index ranges from 0 to 12, with higher scores indicating that these laws are better designed to expand access to credit.  Guyana scores 3 out of 12, reflecting the weak credit infrastructure.  
 

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