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Useful in international goods transfer operations. The payment accounts between seller and buyer are settled only upon receipt of evidence of dispatch of goods to the buyer.
Make international trade operations more flexible.
Use Documentary Collection in cases when the seller does not want to deliver goods to the buyer on "open account" basis, but due to a long-term stable business relationship between the parties there is no need for security provided by a Letter of Credit or payment guarantee.
Documentary collection is suitable to the seller:
Documentary collection is convenient for the buyer because:
Documentary Collection assures the seller that the shipping documents will be released to the buyer only upon payment or acceptance of a Bill of Exchange.
Export collection - if you’re a seller and wish to send documents for collection payment.
Import collection - if you’re a buyer, you’ve received a notice by the bank on receipt of collection documents and you wish to make payment for them.
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