Documentary Collections

Documentary Collections

Documentary Collections for import support purposes.

Documentary Collections are transactions in which the seller sends the documents representing the goods sold through the bank as a means of ensuring payment.

Characteristics

Target market

Companies and individual business owners.

Main features

  • When the documents allowing the release of goods at the destination port or airport are sent, the bank is responsible for delivering them only against payment or acceptance of bills or a commitment letter.
  • The importer can pay for the goods or, if the bank in charge of the collection agrees, can do so through financing.

Deadline

It only applies in cases of delivery of documents against financing, and in such case, the documentary collection operation is extinguished, and we are dealing with a simple financing operation.

Documentation required

  • ETT (External Trade Title); 
  • Debit Authorization at the time of invoicing.

Advantages

  • Ensures proper payment;
  • Security and reliability in operations – in the event that the importer refuses payment or acceptance, you can protect the goods by retaining possession of them;
  • Financing – there is documentation proving the sale, which facilitates bank financing;
  • Fast and efficient service guaranteed by a strong international banking network.