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Documentary or Clean Collections

DOCUMENTARY COLLECTION

A documentary collection is the handling of a set of documents presented by a supplier of goods or services with specific conditions to collect funds or an acceptance from a buyer. These collections are widely used by importers/exporters to settle their transactions.

 

In a collection, the supplier (drawer – exporter) gives specific instructions to the bank to release the documents to the importer (drawer), against payment (at sight) or acceptance (at term).

 

CLEAN COLLECTION

This transaction refers to the process of a bank sending a check to another bank to collect the funds of the check.

 

Collections are regulated by Uniform Rules and Uses of the International Chamber of Commerce No.522, published in January 1996.

 

Benefits

  • Experience in handling foreign trade transactions.
  • Timely and personalized service.

For more information:
BICSA Miami Agency - Business Department

Tel. 305.455.3100
E-Mail: Contact here

 

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