Documentary collections
Foreign bills for collection
A Documentary Collection is the collection, through a bank, of monies owed by a buyer, against delivery of certain documents.
Why you need this
Business peace of mind
Making use of Documentary Collections will ensure your peace of mind.
How it works
Convenience at your hands
Shipping of goods
The seller ships the goods to the buyer
Document handover
The seller hands the documents to his/her bank (the Remitting Bank) with instructions to release the documents against acceptance/ payment of a bill of exchange
Forwarding of documents
The Remitting Bank forwards the documents to the Collecting / Presenting Bank in the Buyer's country.
Release of documents
The Collecting Bank releases documents to the Buyer as per instructions received from the Remitting Bank