Import Collections

Payment method where the banks are handling financial and/or commercial documents

Firstly, you agree with the supplier that payment is to be made by collection. The supplier ships the goods and sends the documentation through his bank to Nordea. We will advise you on arrival of documents and you get access to the documents against payment to Nordea or against acceptance to pay on a future date.

By using Trade Finance Net Services you get access to your import collections via Internet.

Your benefits with import collection:

• Control over delivery; before paying a collection you will receive a collection advice from Nordea. You decide whether or not payment should be effected, depending on your agreement with the seller.
• Financing; by using payment at a future date, you receive financing from the seller, and instead of paying for the goods directly, you accept payment at a future date.
• ICC rules; banks involved will act according to the internationally accepted rules of the International Chamber of Commerce.