Documentary and Bill CollectionsAbout Product

Product description

Documentary collection is a payment method (whether international, or domestic), where documents covering the supply of goods or services are released to the drawee (buyer) subject to fulfillment of conditions provided by the drawer (supplier). Documentary collection offers therefore more security to the supplier than a direct payment.

Under bill collections, unaccepted Bills of Exchange are being presented to the drawee for acceptance and Promissory Notes and accepted Bills of Exchange are being presented for payment.

Usual collection terms:

• Documents against payment
• Documents against acceptance
• Documents against fulfillment of other terms and conditions (such as issuance of a Promisory Note, etc.)

The parties to a collection:

• Drawer (supplier)
• Remitting Bank (supplier’s bank)
• Drawee (buyer)
• Collecting / Presenting Bank (buyer’s bank)

With respect to bank's roles in the transaction, a collection can be:

• Export or domestic supplier’s collection
• Import or domestic buyer’s collection

Česká spořitelna offers export (supplier's) collections as well as import (buyer's) collections.