Export Collection

Introduction

Export collection means a settlement method that, you as the exporter, who entrusts our bank to send commercial documents (bill of lading, invoice, etc.) and financial documents (draft, etc.) to importer¡¯s collecting bank, entrusting the later to collect payment from importer. Based on how documents are released to drawee, export collection could be classified as D/A (i.e.documents against acceptance) and D/P (i.e documents against payment).

Features

1. Payment for goods under export collection is based on commercial credits. Compared with L/C, to settle by collection is less costly, and its procedure is simple.

2. In the case of D/P, clients could avoid the risks of losing goods and funds via the aid of remitting bank¡¯s tracing services.

3. It is recommendable for situations, such as, trade with reputable and well-known importer, who is unwilling to bear expensive charges under LC, or in the case that, the exporter, who is in an adverse position in trade negotiation but desires to get orders and is willing to send the goods in advance before importer¡¯s payment.

Our Commitments

1. We handle the documents according to ICC Uniform Rules for Collections to avoid documents handling disputes, so that you can receive payment as soon as possible.

2. We provide follow-up services such as tracer, acceptance notice and post-payment treatment.

3. We also provide various finance services, such as, collection financing, export factoring and credit¨Cinsurance-based financing.

Kind reminders

1. Clients are suggested to screen importer¡¯s collecting bank first and select a reputable one which has Swift Code to be the collecting bank, in order to avoid the risks of payment failure, bad credit standing and difficulties of further swift communications that caused by non-standardized procedures of the collecting bank.

2. We remind you to investigate your customer¡¯s reputation before signing the contract, and choose L/C for settlement which is based on bank-to-bank credits to avoid risk of payment failure when trade with new customer whose creditability is unknown..

3. When you present documents to us for collection, please enclose the Contact List along with all the required documents

4. As the remmitting bank, we just work as an agent who present the documents to importer¡¯s bank on client¡¯s behalf then credit the funds to drawer¡¯s account after receiving the drawee¡¯s payment. We are not committed to be responsible for risks such as loss of documents, payment failure, etc. The aforesaid risks are for drawer¡¯s account.