Documentary collections

Documentary collection

Documentary collection - seller‘s instruction to forward the goods accompanying documents to the buyer‘s bank and release them to the buyer in exchange for buyer‘s payment or payment undertaking.
  • Safer payment instrument comparing to advance payment/ open account.
  • Possibility for the buyer to check goods accompanying documents before effecting payment.
  • Possibility for the buyer to receive goods after accepting deferred payment undertaking (bill of exchange).
  • Safer payment instrument as bank delivers documents against payment.
  • Possibility to finance the buyer.

Course of the documentary collection

  1. The buyer and the seller agree to use documentary collection as a payment instrument.
  2. The seller ships the goods to the buyer and submits goods accompanying documents to his bank instructing to forward respective documents for payment to the buyer’s bank.
  3. The seller’s bank forwards the documents to the buyer’s bank.
  4. The buyer’s bank advices the buyer about receipt of documents.
  5. In order to get the documents from the bank, buyer has to pay value of documents to the bank. Buyer’s bank releases the documents to the buyer and forwards value of documents to the seller’s bank who credits the value of documents to the seller’s account.
  • Frequently asked questions

  • Documentary Collections fees

Inquire about bank guarantee

When replying to queries submitted in this form, we will be able to provide only general information about bank guarantees. If you have any questions related to financial information of your company, please login to the internet bank or contact us by phone 1633. If calling from abroad, please call +370 5 268 4422.

We will reply to your questions from 8 a.m. to 6 p.m. on business days. If you need urgent information, please call us by phone 1633. If calling from abroad, please call +370 5 268 4422.

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Information regarding potential risks

The seller has no guarantee that the buyer will surely be able and willing to purchase the goods, and that the buyer will come to the bank in order to pay for the goods and pick up the goods documents. The buyer can not check the goods during transportation, before carrying out the payment for them.