Documentary or Clean Collections
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).
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.
- Experience in handling foreign trade transactions.
- Timely and personalized service.
For more information:
BICSA Miami Agency - Business Department
E-Mail: Contact here