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Business>International>Documentary collections 
 

Documentary collections

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.

Overview

  • Help manage trade transactions
  • Examine documents before payment is made
  • Retain control over the release of goods

Further information

For more information contact our dedicated support team on 08484 355 722 (open 8.00am to 5.30pm Monday to Friday, excluding bank holidays).

The team are able to provide support with general Trade queries and has specialist knowledge on areas such as:

  • Documentary letters of credit
  • Documentary collections
  • Bank guarantees

Alternatively, fill out a request for further information form or download our Documentary letters of credit guide (pdf)

 

Key features

  • 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.

For more information fill out a request for further information form or download our Documentary collections guide (pdf)..

 

How to apply

For more information contact our dedicated support team on 08484 355 722 (open 8.00am to 5.30pm Monday to Friday, excluding bank holidays).

The team are able to provide support with general Trade queries and has specialist knowledge on areas such as:

  • Documentary letters of credit
  • Documentary collections
  • Bank guarantees

Alternatively, fill out a request for further information form or download our Documentary letters of credit guide (pdf).