NEW YORK -- Nationsbank Corp. and Barclays Commercial Corp. have signed a trade finance agreement with Bancoldex, the Colombian foreign trade bank.

Carlos Caballero, president of Bancoldex, told American Banker that NationsBank and Barclays will check the creditworthiness of U.S. buyers and handle collections in the United States.

The Colombian bank will provide financing to Colombian exporters who sell to U.S. buyers while the two U.S.-based banks assume the risk in the event that the importer does not pay.

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