Documentary Collections
Foreign bills for collection
A cost-effective method of settling international trade transactions; where the buyer's and seller's banks act as intermediaries in the collection of trade payments.
Understanding the process
Giving the exporter control
A Documentary Collection is the collection, through a bank, of monies owed by a buyer, against delivery of certain documents.
Why you need this
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Security
The exporter retains ownership of the goods until either payment or acceptance is received
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Convenience
The bank acts for the exporter, by presenting commercial documents to the buyer (importer) along with a payment demand or bill of exchange
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Versatility
Accepted bills can be used to get financing
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Quick payment
Settlement is normally faster than using the Open Account method
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Governance
The handling of export collections is governed by the ICC Uniform Rules for Collections
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Guaranteed payment
Unless the buyer pays or commits to pay at a future date, no documents will be handed over
How it works
We simplify the process for you
We will act as a collecting agent enabling the exporter to obtain acceptance and/or payment from the importer against delivery of documents:
What it costs
- Collection fee based on the amount of the collection
- Other fees include amendments to collection instructions, courier charges, SWIFT, queries, etc.
What you need to do
Honour you part of the deal
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Negotiate terms
Simply negotiate the collection terms with the importer, ship the goods and then hand the documents to FNB (Trade & Working Capital Division) with collection instructions
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Provide details
The bank would require the banking details of the importer
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Ensure success
Discuss the transaction with FNB Botswana Trade & Working Capital Division to ensure all collections instructions are clear, workable and unambiguous
Getting it made easy