Documentary Collection is a fast, simple and effective tool for receiving payments and repaying debts.
Documentary Collection is the assignment given to the bank for transferring to the buyer the documents on the goods supplied against payment. We do not take any responsibility for the payment, but we perform the role of document transmitter (intermediary).
Major forms of documentary collection:
- Documents Against Payment or D/P – we will forward the documents to the buyer only after the latter makes a relevant payment for the goods.
- Documents Against Acceptance or D/A – we will forward the documents to the buyer providing the payment for the goods will be performed later (in case of acceptance of letter of commitment (promissory note) for deferred payment). Such type of documentary collection is applied when the buyer and seller make an arrangement for late payment.
For additional information and advice on documentary collection operations, please turn to the bank's Head Office, International and Exchange Operations Division.