Once you signed a Framework Agreement there are no further obstacles to the partnership. The moment you need to buy or sell currency, call our trading department +420 498 777 777 and inform us of the parameters of the trade (e.g. I wish to buy EUR 15,000). We will offer you an up-to-date exchange rate and you may accept or reject the bid. If you reject the bid, you may of course at any time call back and request a new bid. If If you accept the bid, the trader will issue a document of the trade so called Confirmation of Payment Transaction with Currency Exchange and send it to you immediately via email. Making the trade by phone is the decisive moment at which an obligation arises; the written record of the Confirmation of Payment Transaction with Currency Exchange is merely a confirmation of the negotiated parameters of the trade. Any failure to confirm the Confirmation has no influence on the contractual relationship arising from it. You can make a trade via the internet in a similar manner using the OLB service.
You can follow the simple trading process described here.
All agreed parameters of the trade are stated in the Confirmation of Payment Transaction with Currency Exchange (the amount of the trade, the exchange rate, the settlement terms, bank account numbers, etc.). The Client will then submit the transfer of funds according to the instructions in the Confirmation. Payment for the trade must be submitted by the Client immediately thereafter, no later than the next business day. Once the funds are registered to the AKCENTA CZ, a.s. account, we complete the transfer of the obligation from our side to the requested account or to the account of a business partner of the given client abroad according to their Instruction for Outgoing Payment Transaction. After repeated checks of all of these steps, we provide the client with a Settlement Record A (for the account), B (for the partner), which confirms to the client that the requested transaction has been completed.
Trades are completed within the defined periods specified by the Act on Payment Systems. The exact timeframe (mainly a shorter period for settling the trade) must always be agreed with the trader when conducting a new transaction. If this period is exceeded due to the client´s failure to pay in time, the trader is entitled to cancel the transaction and request financial compensation from the client as stated in the Framework Agreement.
Instruction for Outgoing Payment Transactions to a given international partner are completed and sent to us by our clients and we use the data automatically for subsequent payments. For payments to EU countries, we emphasize the importance of stating an IBAN code (expanded account number); more detailed information about the IBAN code can be found in the Frequently Asked Questions.
If you would like to take advantage of cheaper fees for delivered payments (see Pricelist of services ), we would be happy to do these operations for you as well. Information about a banking connection for your foreign partners will be provided to you by us upon request from the trading department +420 498 777 777.