Stages of Documentary
1. Trade partners sign an agreement on the purchase of certain goods and services, where a documentary collection is stated as a means of payment;
2. A seller /principal sends goods to a buyer (drawee);
3. A seller/principal presents the documentation to its bank;
4. A seller’s/principal/s bank sends the documentations together with the letter of collection to a buyer’s/drawee’s bank;
5. A buyer’s/drawee’s bank notifies a buyer/drawee on the provisions of the documentation;
6. If a buyer/drawee accepts the provisions of a documentary payment, it accepts the documentations and performs a payment in the form indicated in the letter of collection;
7. A buyer/drawee receives goods in return to the documentation.
Service fees, in case there is collection order versus bill of exchange and payment liability, are to be agreed individually.
- Daily Services
- Debit Cards
- Credit Cards