Import collection

In established trade relations the import collection is a common method of payment in which the buyer and the seller divide trading risks.

The seller sends the goods and delivers to its bank the collection order with the shipping documents and a possible draft. The bank forwards them to Nordea who advises your company of the arrival of the collection order.

As a buyer you will receive the documents entitling you to possession of the goods as soon as you pay the collection or accept the draft.

When you are making an order, inform the seller of your bank connection to ensure that the relevant documents arrive directly to Nordea.

For further information on the practicalities of import collections contact a Nordea branch or the Trade Finance unit.