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
- 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
Contact one of our international services experts on 1300 55 72 72 or email the international services team