Back Documentary Collection

Documentary collection is a task given to its bank by exporter, to collect payment from importer against documents submitted. Through documentary collection, the bank follows instructions but bears no responsibility for default on payment by importer.

Advantages for buyer:

  • Low transaction cost
  • Simplicity
  • Payment against goods after delivery
  • Involvement of banks in documentary collection process

Advantages for seller:

  • Low transaction cost
  • Simplicity
  • Staying in charge of goods shipped prior to receipt of payment Involvement of banks in documentary collection process

Advising documentary collection

USD 20

Monitoring and payment under documentary collection

0.2% (min. USD 50, max. USD 100)

 

Mail and communication As applicable

Amendment to documentary collection

USD 20
Other additional charges As applicable

 

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