Outward Bills for Collection
Product Name
Outward Bills for Collection
Introduction
Entrusted by the exporter, the bank, with the financial and commercial documents submitted by the exporter, collects payment from the importer via its foreign correspondent banks or sister-branches.
Export collection can be classified into two types, namely documents against payment (D/P) and documents against acceptance (D/A).
Features
Convenient and easy to operate as compared with letter of credit.
Low banking charges, helping the exporter to save expenses and control costs.
The importer can pick up the goods only after acceptance or payment. As for the exporter, the risk is relatively lower than that of credit sale.
For Customers
Exporters who are aware of the Importer’s credit status.
Application requirements
The enterprise is maintaining current account with our bank.
Product Disclosure Sheet
Documents Required
When entrusting the bank to do the operation of outward bill for collection, the exporter/seller should provide the following documents:
a. Documentary Collection and/or Negotiation Form.
b. Full set of documents for collection.
