Inward Bills for Collection　

Entrusted by a correspondent bank or an affiliated bank, and according to their instructions, Bank of China (Malaysia) Berhad collects import payments and delivers relevant commercial documents to the importer/purchaser. 

Inward Bills for Collection has two forms including documents against payment (D/P) and documents against acceptance (D/A). 

Low cost -- low banking fees, it helps to reduce financial expenses and control the costs. 

Easy to use -- simple procedures and easy to use as compared L/Cs. 

Reduce funds occupation -- no advance payment required when the exporter prepares and ships the goods, the goods documents can be obtained immediately and the goods become disposable upon payment or acceptance. 

Improve cash flow -- with D/A, the importer can immediately obtain the goods document and dispose the goods after acceptance, and can make payments later as the inflow of cash are generated by the sale of goods. With almost no occupation of funds, the company’s financial position and solvency can be greatly improved. 

Importers who wish to pay to exporters/sellers with lower cost and simpler procedures than L/Cs. 

The enterprise is maintaining current account with our bank. 

Product Disclosure Sheet - Inward Bills for Collection - Version No 2023-09

According to the instruction from the correspondent bank or an affiliated bank, The Importer can opt to make payment or to make payment on maturity upon acceptance by obtaining the trade financing from Bank of China (Malaysia) Berhad if the importer/purchaser has been granted with any trade facilities for the settlement of the bill or to settle by using his own funds.