Documentary collection

Documentary collection is the arrangement of the received documents in accordance to the regulations provided by the bearer (exporter), on the purpose to get the payment or the acceptance. Either financial documents (promissory notes, cheques), or commercial documents (invoices, transport documents and other) may be provided to the bank for the collection.

Collection of the documents for the settlements is used in case when the customer and the seller have reliable relationships. Unlike the letters-of-credit (L/C), under the bill-of-collection the payer is not the bank but the purchaser of goods or services. The bank transfers the funds to the seller, when the funds are received from the depositary bank. The settlement under the collection of the documents is more secure than the settlement by the payment transfer.

Collection of the documents is handled according to the "Uniform Rules for Collections No.URC-522" issued by International Chamber of Commerce.  

Please refer to our Settlements Department to get more information related.