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
- documentary collection: 0.2% of AUD value, minimum $50, plus outlays
- dishonour of documentary collection: 0.2% of AUD value, minimum $50, plus outlays
- extension/amendment of terms/amount: $50, plus outlays.
How to apply
Contact one of our international services experts on 1300 55 72 72 or email the international services team
Important information
Products issued by Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616. Fees and charges are payable. This website contains general advice. This advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and consider the relevant Product Disclosure Statement (PDS), terms and conditions, Financial Services Guide and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. You can obtain a copy of those documents from any Bank of Queensland branch or from this website.