Collections offer exporters the following advantages:

• The exporter's bank monitors whether the payment is made or accepted.
• The shipping documents stay in the banking system until the collection has been paid or accepted.
• You can electronically initiate and manage your export collections.
• You obtain better liquidity.
• They are easier to process than documentary credits.

You should be aware, however, that if the goods are addressed to the importer, the importer will usually be able to get hold of them without presenting the transport documents, with the exception of bills of lading.
For this reason, it might be prudent to address the goods to a transport firm or the importer's bank - although this requires the bank's agreement.

Direct collections

If you wish to make your internal procedures even more effective and flexible, you can use our direct collection service. By using our online system, you can print the letter of instruction and send it directly together with the documents to the importer's bank. At the same time we receive an electronic copy of the letter of instruction which we use for registration in our systems. After this we handle the rest of the transaction for you.