Import documentary collections
This product allows your supplier (exporter) to lodge documents with their bank. These documents are then sent to the Bank of Queensland for collection with a set of instructions. On receipt, we will contact you (the importer) and arrange for you to pay or accept the bill of exchange and will release the documents to you, giving you access to the goods. Documentary collections are often more favoured than documentary letters of credit, once a degree of trust and experience is built up between the importer and their supplier. A degree of control is reduced, however costs are usually lower for both parties.
Features and benefits
- Allows the importer access to documents (and therefore goods) against payment of, or acceptance of a bill of exchange.
- The exporter has assurance that the importer will not gain access to goods without meeting payment terms of instructions provided with the documents.
- Both importers and exporters must adhere to International Chamber of Commerce uniform rules for collections (URC 522).
Fees and charges
- for collection and payment: 0.25% of AUD value, minimum $50, plus outlays
- dishonour of inward collection: 0.25% of AUD value, minimum $50, plus outlays
- extension/representation of inward bill: $50, plus outlays
- release of goods/undertaking: $50.
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.