Export Collection
Requested 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
•Low cost. Low banking fees, help reduce financial expenses and control the costs.
•Easy to use. Simple procedures, easy to use as compared with L/Cs.
•Lower risk. The importer can only take delivery of the goods after acceptance or payment, which helps reduce the risks for the exporter as compared with open account sales.
