Our Import Documentary Collections are useful if you're dealing with a new overseas supplier. It's also an efficient tool for settling trade debts.

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Efficiency

It's a simple and efficient tool for settling trade debts.

Flexibility

Negotiate credit terms and the cost of collection to be paid by your supplier.

Convenience

Make immediate payments to your suppliers on presentation of documents.

  • Benefits

    • Simple and efficient tool for settling trade debts.
    • 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 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 released to the buyer against payment. This method is more secure for the exporter than documents against acceptance.

  • How it works

    • 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.
  • How to get it

Need more help?

Email us at:

InternationalBankingservices@absa.co.za