Import Documentary Collection is a service provided by banks to facilitate exporter to obtain payment from the importer for goods shipped. It is a compromise between an open account and advance payment term. In documentary collection transactions, exporters maintain control over goods shipped because shipping documents are released to the importer only upon payment or acceptance by the importer.
• Importers are assured that the necessary documents required for release of the goods are in order
before making payment or accepting the bill otherwise you may refuse payment or acceptance
• Simpler and cheaper method in handling imports compared to Letters of Credit
• Allows you to take the goods and make payment at maturity
• Allows access to financing options through our range of import financing products
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