How it works

 

Import documentary collections allows your supplier (exporter) to lodge documents with their bank. These documents are then sent to BOQ 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, releasing the documents to you and giving you access to the goods. 

Documentary collections are often favoured over 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

Easier access

Allows the importer access to documents (and therefore goods) against payment of, or acceptance of a bill of exchange.

Assurance

The exporter has assurance that the importer will not gain access to goods without meeting payment terms of instructions provided with the documents.

Compliance

Both importers and exporters must adhere to the internationally recognised rules set by International Chamber of Commerce (ICC).

Important information

For important information on Import Documentary Collections, view our Terms and Conditions below.

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