The Bank provides an export collection service for its customers. Under this arrangement, the customer will ship goods overseas and entrust the Bank with the handling of documents and collection of payment from overseas. This normally entails us presenting the documents to the Bank holding the account of the buyer overseas. This is an alternative and cheaper method of service but much less secure than an LC as you are totally reliant on your buyer to authorise payment.
We provide collection handling services for documents drawn on our customers. Collections will be handled in accordance with instructions received from the Presenting Bank and documents released against acceptance or payment.
This is a means of securing a bank guarantee for the payment of a bill for collection. This will need to be agreed with the importer in advance as they will need to have a facility with their own Bank for guaranteeing payment of such items. We can offer to discount Aval drafts provided we have lines for the bank guaranteeing payment of the bill.