Documentary collections
Our business guides provide assistance with importing, exporting and making and receiving payments within Europe.
When trading internationally documentary collections can help manage the trade transaction by retaining control of the goods and the timing of payment. If you are importing, the bank will release documents to you upon your authority to pay or your acceptance of a bill of exchange payable in the future. If you are exporting, the bank will control release of documentation to the buyer against either payment by the buyer or their promise to pay where you have agreed this.
Help manage trade transactions
Examine documents before payment is made
Retain control over the release of goods
For more information contact our international business team on 0845 300 0101 (open 8.30am to 5pm Monday to Friday). Alternatively, fill out a request for further information form or download our Documentary collections guide (pdf).
Features & Benefits of Documentary collections
- If importing, you will be able to examine the documents before payment is made, or examine the goods before payment is made where payment has been promised at a future date.
- If exporting, you will be able to retain an element of control over the release of your goods against the buyers payment or promise to pay.
- Use documentary collections to reflect a growing relationship of trust that may allow for improved terms in your trading business, e.g. better prices or longer credit terms.
- Benefit from a more controlled method of payment than dealing on an open account basis – the bank collects payment against bills of exchange and/or documents after goods are shipped.
How do I open a new Documentary collection?
By telephone
Call 0845 300 0101 for more information.
