Paredes, who has spent the entirety of his career in his native Ecuador, featured in all three of Amarillos games at the Brazil-based tournament - as they finished third in Group E. Despite failing to qualify for the knock-out rounds, Paredes impressed viewers with his pace and ability on the ball from the right-back position - frequently overlapping on the wing and troubling defences with numerous crosses.
His reputation has rapidly increased following his showings on the world stage, although the Hornets have been confident of completing a deal since the start of the summer, and the Watford Observer has reported that a permanent deal has now been agreed between Watford and Barcelona Sporting Club.
Paredes failed to report to training with the Ecuadorian club on Monday in an attempt to force a move away, and, despite club president Francisco Hidalgo confirming that the player was likely to be fined, and that a deal had yet to be agreed, it seems as if he has now allowed the transfer to go ahead.
Udinese, who are owned by the same family as Watford, expressed an interest in Paredes last season, although it now appears as if, with the departure of Marco Cassetti from Vicarage Road, the Hornets are in need of a right-back more than their Italian counterparts. Former Manchester United youngster Reece Brown and club legend Lloyd Doyley are the two options currently available for the right defensive position, but the feeling is that Paredes could walk right into the team following his displays at the World Cup.
As well as right-back, Paredes can feature all along the backline, as well as any where upon the right wing - with his pace allowing him to support both the attacking and defensive play of his teammates. It is suspected that he will travel to Austria to join up with the rest of the Hornets squad in the coming days.
The 27-year old has made 204 appearances in the Ecuadorian leagues, scoring 22 goals, and winning the 2011 Serie A title with Deportivo Quito. He has failed to score in 41 appearances for his country.