Do you wish the commercial documents (bill of lading, airway bill, invoice, insurance policy, certificates…) for the goods that you exported to be handed over to your partner only after the partner has made the payment? Hand the documents over to the Bank and it will collect against the documents for you through its correspondent banks abroad.
- Documentary collection is an international payment instrument that implies entrusting the bank with the collection against documents (most often trade documents). The bank delivers the documents to the debtor against their payment (D/P – documents against payment) or against acceptance of the enclosed bill of exchange (D/A – documents against acceptance).
- Nostro collection is an international payment instrument in goods exports. The bank takes over the documents from the domestic customer and entrusts the foreign bank with the documents and collection.
- Vostro collection is an international payment instrument in goods imports. The domestic bank receives the documents from the foreign bank.