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Useful Info

A Documentary Collection is the collection, through a bank, of monies owed by a buyer, against delivery of certain documents.

Documentary Collections

A Documentary Collection is the collection, through a bank, of monies owed by a buyer, against delivery of certain documents.

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More about: Documentary Collections

Why do I need this?

Making use of Documentary Collections will ensure your peace of mind.

As an exporter you retain ownership of goods until either payment or acceptance is received...plus:

  • Accepted bills can be used to obtain financing
  • The handling of export collections is governed by the ICC Uniform Rules for Collections
  • The bank acts for the exporter, by presenting commercial documents to the buyer (importer) along with a payment demand or bill of exchange
  • Settlement is normally faster than using the Open Account method

As an exporter you retain ownership of goods until either payment or acceptance is received...plus:

  • Documents against acceptance (D/A) - documents are released to the buyer against acceptance to pay at a future date
  • Documents against payment (D/P) - documents are released to the buyer against payment
  • Unless the buyer pays or commits to pay at a future date, no documents will be handed over

What can I do with this?

Take a look at how simply and conveniently Documentation Collection works:

  • The seller ships the goods to the buyer
  • The seller hands the documents to his/her bank (the Remitting Bank) with instructions to release the documents against acceptance/payment of a bill of exchange
  • The Remitting Bank forwards the documents to the Collecting / Presenting Bank in the Buyer's country. The Collecting Bank could be the Buyer's bank or another bank nominated by the Remitting Bank
  • The Collecting Bank releases documents to the Buyer as per instructions received from the Remitting Bank

Maybe you'd also like to know...

Will the receipt of a documentary bill for collection impact on my banking facilities?

No. The banks involved in the collection process do not make any guarantee for payment, and, therefore, there is no requirement to mark the collection against your banking facility. If your bank is requested to 'avalise' the bill of exchange, then the amount of the bill will be marked against your facility.

How do I ascertain whether a documentary collection is the correct payment method to utilise for my import?

Usually, the payment method is agreed upon with the seller at the time of negotiation of the sales contract. The seller will request payment via a documentary collection.

What is the Uniform Rules for Collections?

It is hard to imagine dealing with collections without the security of international uniformity. The International Chamber of Commerce (ICC) is an international body that has defined worldwide standards for the operation of documentary collections.

These standards are embodied in the 'Uniform Rules for Collections', commonly referred to as the URC 522. The URC 522 is not a force of law, but a set of rules and regulations that are binding on the parties who subscribe to it.

I want it!

Contact our RMB Namibia Trade or give us a call on (061) 299 2314 or 2177.

Contact Details

Contact our RMB Namibia Trade. One of our consultants will tell you all you need to know or give us a call on (061) 299 2314 or 2177.