Export documentary collections

This service allows the exporter to lodge documents and collection instructions with the Bank of Queensland and we send them on to your customer’s bank for collection. On receipt, the overseas bank will contact your customer and arrange for payment or acceptance of the bill of exchange. They then release the documents to your customer, giving them access to the goods.

 

Documentary collections are favoured over documentary letters of credit, once a degree of trust and experience is built up between the exporter and the customer. Control is reduced, however costs are usually lower for both parties.

Features and benefits

  • allows your customer access to documents (and therefore goods) against payment of, or acceptance of a bill of exchange
  • the exporter knows that their customer will not gain access to goods without meeting the payment terms of instruction provided with the documents
  • provides security for both importers and exporters because banks must adhere to International Chamber of Commerce uniform rules for collections (URC 522).


Fees and charges

  • Fees and charges are contained in the Business Banking Guide to Fees and Charges (see link at the bottom of this page)

How to apply

 

Important information