Documentary or Clean Collections

DOCUMENTARY COLLECTION

It is the handling of financial and or financial documents according to the instructions given by a customer or a third party. Documentary collections can be used for export or import.

For export collection the person who requests it (drawer – exporter) gives instructions to the bank for the sending of documents to be collected and give them to the importer (drawee), against the payment (on demand) or acceptance (at term).

For import collection the bank receives instructions from de remitting bank or from the drawer/exporter to deliver the documents against payment (on demand) or acceptance (if at term), fulfilling the terms and conditions established.

SIMPLE COLLECTIONS

It refers to the process of a bank that sends to another bank a check to be cashed according to the instructions given by the owner of the account or a third party (drawer); or to pay one of our checks that is sent by another bank to be cashed (remitter).

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.
• Additional financing if a Line of Credit is granted.

For more information:
BICSA Miami Agency - Business Department

Tel. 305.455.3100
E-Mail: Contact here