Import Documentary Collections

This is where an exporter collects payment from his overseas buyer (the importer) through the Bank. After the shipments of goods, the exporter entrusts the trade documents to the Bank, with specific instructions and terms for their release to the buyer.

The Bank releases the documents to the buyer only when he meets the payment terms, either by D/A (Documents against Acceptance) or D/P (Documents against Payment). Short-term financing under Trust Receipts is also available from the Bank.

Import Documentary Collection (DA DP)
1. Commission (Handling Docs Against Acceptance) 0.11% pm (min.$30.00)
2. Commissoin (Handling Docs Against Payment) 0.15% (min.$30.00)
3. Settlement Cable $15.00
4. SWIFT Advising $15.00