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Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.
Why use documentary collections?
Provide a secure way to make and receive payments during international trade
An exporter submits shipping documents and payment instructions to their bank once they’ve sent the goods
The bank obtains payment or an acceptance of a bill of exchange from the importer’s bank and releases the documentation
The banks involved in export collection don’t guarantee payment, so you should always check the buyer’s credit status before agreeing to use this service.
Documentary collections in detail...
Benefits OpenClose
Improved cashflow
When importing, you don't pay until you receive shipping confirmation – so you keep your cash for longer. When exporting, deferred payment collections can often be discounted with your bank.
Cost-efficient and easy to use
There's no need for a capital-weighted bank facility, and documentation is turned around quickly
Added security
Importers only pay once there's proof of shipment, so it's more secure than paying for your goods in advance. If you're exporting, you keep control of the documents until the goods have been paid for or a bill of exchange has been accepted.
Universally regulated
Documentary collections are subject to globally recognised rules issued by the International Chamber of Commerce.
Types of Collections OpenClose
Import collection
Import collection (also referred to as an Inward Bill or inward collection) could be your best option. It’s a universally recognised method for settling overseas trade debt through the international banking system and may also be the preferred settlement method of your overseas supplier.
Export collection
Export collection (also known as Outward Bill) is a universally recognised method for settling overseas trade debt through the international banking system. It means you may be able to keep control of the goods that you have shipped until the importer can see that delivery of the goods has been made and agrees to pay.
Bonds & guarantees, and standby letters of credit, provide companies with additional protection in respect of their business or customers, performance or financial obligations. We can issue guarantees on your behalf or receive and validate guarantees issued by other banks in your favour.
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Provide a secure method of settlement and reduce the risk of non- payment for delivered goods. Once issued they are legally binding, irrevocable and cannot be cancelled unless all parties agree.
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Trade Loans tailor loans to a specific contract(s) and cover the funding gap between you paying your suppliers and being paid by your customer. They allow you to repay the loan when your customer pays you and are available to businesses with a turnover of over £2m.
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Managing risk
Help protect against the impact of exchange rate fluctuations and the risk of not being paid
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Max Trad
Our secure online platform lets you manage your international trade transactions from anywhere, 24 hours a day
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Trade Finance Portal
Our new online platform lets you manage your domestic and international trade transactions effectively.
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