Use our Export Documentary Collections service and we guarantee you'll receive payment for goods you export.

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Peace of mind

Easy and safe to receive payment for goods you export.

Convenience

It’s convenient. Documents and payments handled on your behalf.

Save

It’s a cost-effective way to trade internationally.

  • Benefits

    • Simple operation.
    • Improves cashflow.
    • We can discount a guaranteed bill before due date.
    • It's convenient. 
    • Reduces export risk.
  • How it works

    • Export Documentary Collections operates as follows:
      • The exporter sends documents that allow access to the goods being imported (that is, a bill of lading, certificate of origin, invoice) to their bank, along with a bill of exchange requesting payment according to the agreed terms.
      • Payment is normally requested in one of two ways: immediately on presentation of the collection to the importing customer ('sight payment'), or on an agreed future date ('term payment').
      • In the case of term payments, importing customers will be required to endorse the bill of exchange (that is, sign it, usually on the back) to indicate their acceptance of it before we release to them the documents allowing access to the goods.
    • Our Export Documentary Collections are governed by International Chamber of Commerce rules; this means that aspects such as responsibilities and liabilities are clearly defined and standardised worldwide
    • If the correspondent bank (collecting bank) has guaranteed payment of the bill of exchange we can discount the bill of exchange without affecting our client’s facilities. This allows them to improve their cash flow by receiving funds earlier than the due date. In this case, our risk is marked against the collecting bank.
    • Payments of any value may be collected in any freely traded currency.
    • Payment can be received immediately on presentation of the documents to the buyer or on an agreed future date.
    • Choice of delivery channels to use when originating the collection.
  • How to get it

Need more help?

Contact your nearest branch or your International Business Banking Specialist. 

Email

InternationalBankingservices@absa.co.za