Export Documentary Collection

Contact the International Trade Solutions on
1300 656 251

A process by which your documents are forwarded by Westpac to a bank in the buyer's country and are only released to the buyer when payment terms and conditions are met. It offers:

A more cost effective solution than a documentary credit
Flexibility, making it easier to take advantage of fluctuating market opportunities.

Additional features

Westpac monitors the entire collection process, from the dispatch of your documents through to receipt of the payment
You stipulate the payment terms and conditions
An alternative form of payment to an export documentary credit
Available in all major currencies
Payment is generally made available to you when Westpac receives proceeds from your buyer's bank
Issued on a 'sight' or 'term' basis
(sight - drafts are drawn for immediate payment
term - drafts are drawn on a term payment basis - e.g. 30 days after sight, 90 days from bill of lading).

Risks

Payment default risk is greater than that of a documentary credit as the buyer can refuse payment at any time
Disputes over terms and conditions after you ship can result in delayed payment or non-payment
Unplanned expenses may arise should the buyer delay or default payment.

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General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Consider our disclosure documents, which include Product Disclosure Statements (PDS) for some products. The PDS is relevant when deciding whether to acquire or hold a product. View our Australian Prudential Regulation Authority Registrable Superannuation Entity (RSE) Licence & Registration numbers.

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Credit facilities are subject to application and the bank's normal lending assessment criteria. Fees and charges may apply to the products and services listed. Full details of the terms and conditions for all the products and services which do not have a Product Disclosure Statement are available on application.