Documentary collection

An easier alternative compared to the customary documentary Letter of Credit, allowing you to access your goods without any delay.

Documentary collection is suitable for international business

Suitable for international business

Documentary collection is also ideal for sea transport

Ideal for sea transport

Unified legal regulations issued by the International Chamber of Commerce

Unified legal regulations issued by the International Chamber of Commerce

Benefits

  • documentary collection is particularly suitable if the goods are dispatched by sea and all originals of the bill of lading* are sent through the bank
  • simple and fast handling
  • lower charges compared to a Letter of Credit

*Bill of lading is a type of securities within maritime transport confirming the ownership of the goods being transported.

  • the buyer will have access to the documents only upon fulfillment of the collection instruction (the payment or acceptance of a bill)
  • documentary collection can be opened even without financial means
  • unified international regulations – documentary collection is governed by the Unified Rules for Collection published by the International Chamber of Commerce in Paris

Details

Documentary collection is a form of payment system mostly used with foreign countries in which documents are released to the buyer only upon fulfillment of one of the following conditions for collection:

  • release of documents against payment,
  • release of documents against acceptance of a bill due in the future.

We provide the following types of documentary/bill collection:

  • import documentary and bill collection
    Tatra banka’s client is in the position of a buyer/drawee,
  • export documentary and bill collection
    Tatra banka’s client is in the position of a seller/bill holder.

In a documentary collection, the bank does not enter into its client's obligation.

To get a documentary collection, you must:

  • submit a duly completed application signed by the your business’s authorized representatives together with the documents that had previously been agreed for presentation between the business partners,
  • have sufficient coverage on your account for the settlement of bank charges.
www.tatrabanka.sk | Dialog: *1100 | Tatra banka a.s.
http://www.tatrabanka.sk/en/business/documentary-collection/