Our Import Documentary Collection service offers you a safe, secure method of sourcing products from abroad to help you increase your business' opportunities while providing some form of security for you and your trading partner.

It’s simple and efficient

It is a simple and efficient tool for settling trade debts.

Improves cash flow

It improves cash flow for customers who are able to negotiate credit terms.

You get paid immediately

Payment can be made immediately on presentation of the documents or on an agreed future date.

What you need to know and how to get it

Benefits
  • It is a simple and efficient tool for settling trade debts
  • It improves cash flow for customers who are able to negotiate credit terms
  • Payments of any value may be made in any freely traded currency
  • Payment can be made immediately on presentation of the documents or on an agreed future date
Features

Documents against acceptance
Documents against acceptance (also known as D/A) are documents released to the buyer against acceptance of a bill of exchange payable or an undertaking to pay at a future date, for example, 30 or 60 days from bill of lading date. If documents are released against acceptance, the buyer is able to inspect the goods before payment takes place.

Documents against payment
Documents against payment (also known as D/P) are documents released to the buyer against payment. This method is more secure for the exporter than documents against acceptance.

How it works

Here’s how our Import Documentary Collections work:

  • The exporter sends documents that allow access to the goods being imported (i.e. a bill of lading, certificate of origin, invoice, etc.) 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 (ie. sign it, usually on the back) to indicate their acceptance of it before we release to them the documents allowing access to the goods.

Need more help?

Email us at:

InternationalBankingservices@absa.co.za