COLLECTIONS

The Collection Service is a method of payment used by many exporters by means of the presentation of financial documents (bills of exchange, promissory notes, checks and other similar instruments) or commercial documents (invoices, shipping documents, title documents and other similar documents) in order for such documents to be paid or accepted by the issuer or importer.

At BICSA we offer the following collection modalities:

  • Import Collection: through this process, BICSA makes the presentation of the shipping documents for imports made by our customers, which are received from banks and suppliers from anywhere in the world, offering the following commissions for this service:
Tariff: 0.25% of the amount
Minimum: US$50.00 Plus other applicable charges.
  • Exportation Collection: for this method of payment, BICSA has a great network of Correspondent Banks around the world, which facilitates the processing of documents with speed and security.
Tariff: 0.25% of the amount
Minimum: US$50.00 Plus other applicable charges.
  • Clean Collection: is the process of obtaining payment on a check drawn against another bank. In this process there is no delivery of any representative document of merchandise.
    Tariff:
Tariff: Minimum: US$30.00 Plus other applicable charges.

Benefits

  • Wide experience in the handling of foreign trade operations
  • Security and confidentiality.
  • Prompt and personal attention.
  • Low handling costs.
  • Additional financing in the case of obtaining a Line of Credit
  • Possibility discount of drafts.

Requirements

  • Legal status with no more than one month issued and authenticated by a lawyer.
  • Original Public Registry Certification valid for no more than 6 months.

Further Information

To obtain further information on Clean and Documentary Collection – Corporate Banking, write us at this email and one of our executives will communicate with you.

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