Export documentary collections
- Suitable for collecting payments of any amount and in any freely traded currency
- Payment is requested from your buyer on immediate presentation of the Collection* or at a fixed or determinable future date
- Reduces the risk of losing title to the goods prior to receiving payment, or an agreement to pay, from your buyer
- Improves cashflow control: you may be able to receive cash in advance by use of discounting
- Choice of methods to originate a Collection*
- Easy to use and quick to set up
* Collections are originated by exporters seeking payment for their trading activities. They can be used to collect payments of any size and in any freely traded currency.
How it can help your business
Export documentary collections are a simple and efficient way to collect payments for the goods you export. You stay in control of the process because the documents of title are sent to the buyer’s bank.
Enhances trading confidence
Documents are only released to your buyer upon payment or acceptance of the bill of exchange. In this way Collections can provide reassurance, particularly when dealing with new trading partners.
The increased certainty of payment date offered by sight payment enables you to predict your cashflow more accurately. After submitting the Collection, you can also ask us to trace progress of the payment if necessary.
How they work
Collections are originated by exporters seeking payment for their trading activities. They can be used to collect payments of any size in any freely traded currency.
Transport documents allowing access to the goods being exported, for example a bill of lading, are sent to your buyer’s bankers along with an invoice. Payment is then requested on either immediate presentation of the Collection (sight payment) or on your buyer’s acceptance to pay the bill of exchange at an agreed fixed or determinable future date (term payment).