Export Documentary Collections

Manage and track your export payments

Export documentary collections allow your title documents and collection instructions to be lodged through BOQ, 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. When the customer's bank receives payment or acceptance of a 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, as a degree of trust and experience can be built up between the exporter and the customer. While control is reduced, 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 comfort for both importers and exporters as banks must adhere to the internationally recognised rules set by International Chamber of Commerce (ICC). 



Important information

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