Documentary collection is a payment method in which the exporter authorizes the bank to collect money from the importer based on the shipping documents, with the condition that the bank will hand over the documents to the importer to receive goods only when the importer pays or accepts to pay the Bill of exchange at maturity.
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Upon receiving collection documents from overseas bank, Vietcombank will inform and request customer to pay or accept to pay the Bill of exchange at maturity and then hand over the documents for customer to receive goods.
Types of collection
- D/P (Documents against Payment): The bank hands over the documents to the importer only when the importer makes payment.
- D/A (Documents against Acceptance): The bank hands over the documents to the importer only when the importer accepts to pay the Bill of exchange at maturity.
Benefits
- Receive support in handling the documents;
- Payment within the shortest time with competitive fee through Vietcombank 's worldwide network.