Documentary Collection is the process A documentary collection is a transaction whereby the exporter entrusts the collection of payment to the exporter’s bank called also remitting bank, which sends documents to the buyer’s bank called also collecting bank, along with instructions for payment.
Banks solely act as agents to the parties on whose behalf they are acting and only to follow responsibilities specified in the collection instructions. Banks do not guarantee any payment and documentary collection is subject to the Uniform Rules for Collection, International Chamber of Commerce Publication No. 522 (URC522).
In general, a documentary collection would be appropriate where:
The seller and the buyer trust each other because of a long standing business relationship;
The buyer's as well as seller's countries are politically and economically stable.
TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE
LC FEE AND CHARGE UCP 600 TEXT LC DISCOUNT BACK TO BACK LC STANBY LETTER OF CREDIT DOCUMENTARY COLLECTION BILL DISCOUNTING PROMISSORY NOTE DISCOUNTING BID BOND PERFORMANCE BOND ADVANCE PAYMENT BOND MAINTENANCE BOND ALGERIA ANGOLA BENIN BOTSWANA BURKINA FASO BURUNDI CABO VERDE CAMEROON CENTRAL AFRICAN REPUBLIC CHAD COMOROS DRC CONGO REPUBLIC OF THE CONGO IVORY COAST DJIBOUTI EGYPT EQUATORIAL GUINEA ERITREA SWAZILAND ESWATINI ETHIOPA GABON GAMBIA GHANA GUINEA BISSAU KENYA LESOTHO LIBERIA LIBYA MADAGASCAR MALAWI MALI MAURITANIA MAURITIUS MOROCCO MOZAMBIQUE NAMIBIA NIGER RWANDA SAO-TOME AND PRINCIPE SENEGAL SEYCHELLES SIERRA-LEONE SOMALIA SOUTH-AFRICA SOUTH-SUDAN TANZANIA TOGO TUNISIA UGANDA ZAMBIA ZIMBABWE GUINEA CONAKRY SUDAN NIGERIA BLOCKCHAIN TRADE FINANCE