Collecting foreign credits represented by bills or documents
Documentary collection is an international form of payment through which you can confer on your Bank a mandate to collect the value of the supply from the importer. In short, the payment by the importer takes place subject to presentation of documents, such as invoices or transport documents.
In cases of collection, the Bank does not take on any responsibility for the successful outcome of the transaction since it acts as a mere agent.
Types of collection:
- Simple collection: the order only contains the financial documents (e.g. cheques, bills of exchange, promissory notes, etc.). Should cheques be presented, they can be treated as “after collection” (after sending to the foreign/correspondent Bank, the beneficiary waits to receive the net amount from the foreign/correspondent Bank) or as “subject to collection”.
- Documented collection: the order contains commercial documents (e.g. invoices, transport documents, etc.) which may or may not be accompanied by financial documents.
Our local banks are deeply connected to the community. This way, we are present and close to the needs of individuals and businesses.
Advertising message for promotional purposes. The contractual conditions are indicated in the Information Sheets made available to the public at the bank branches and in the "Transparency" section of the website. The granting of the financing is left to the discretion of the bank, after checking the necessary requirements of the applicant.