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Essentials

 

 

Complete documentary collection process monitored

  • Documentary evidence that the goods have been shipped by the seller may be presented.
  • When we receive the documents from the seller, we’ll contact you.  The documents will then be released to you when the seller’s terms and conditions are met.
  • You may elect not to accept or pay the collection
  • Issued on a 'sight' or 'term' basis: sight means that drafts are drawn for immediate payment, term means that drafts are drawn on a term payment basis - e.g. 30 days after sight, 90 days from bill of lading
  • A safer alternative to prepayments
  • A cost effective payment method as compared to a documentary letter of credit.

 

Things you should know

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.