Export Collections

Banks are handling financial and/or commercial documents

Collection is a frequently used payment method which is an alternative for direct payment. Banks are handling financial and/or commercial documents. The buyer and the seller divide trading risks.

Export collection is recommended when you want to ensure payment or acceptance of a draft according to the agreed terms before the buyer receives the documents entitling to possession of the goods. Commercial and political risk is still on the seller.

Bank is monitoring the assignments and sending reminders if payment is delayed. Export collection is also used for cashing cheques issued by private persons or companies.

Your benefits with collections:

• Credit/financing; you can offer credit and/or obtain finance
• Speed up the payment; a collection is paid much faster than an invoice sent directly to the buyer under open account
• ICC rules; banks involved will act according to the internationally accepted rules of the International Chamber of Commerce.
• Control over goods; you gain control of goods until paid for or get an accepted future payment.

You are able to handle your collections on the internet by using Trade Finance Net Services .