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How Export Documentary Collections Work

An Export Documentary Collection is a method of payment by which an exporter can collect payment from an importer through an intermediary bank, which facilitates the flow of title documents and payment.

  • The exporter’s bank solicits a payment, on the exporter’s behalf from an importer by sending title documents and a cover letter to the importer’s bank.
  • The importer’s bank advises the importer of the bill. When the importer pays the bill, the importer’s bank pays the exporter’s bank.
  • When the exporter’s bank receives payment, it promptly credits those funds to the exporter.