An Import Documentary Collection is a service in which CEXIM acting as the collecting bank, upon receiving documents from the exporter’s bank (remitting bank), presents documents to the importer (our customer) for payment or acceptance as instructed by remitting bank.
Our Service: Documents against Payment (D/P) and Documents against Acceptance (D/A).
Benefits for Importers
Low Cost: Lower bank charges enable the importer to save the cost;
Simple Steps: Compared with documentary credit, the procedure of import collection is simple and easy to use;
Reducing the Funds Tied Up: The importer does not need to effect the payment during the preparation and shipment of goods. Under D/A, the importer can obtain the documents and receive proceeds in cash by resale before the maturity date, reducing the funds tied up in the businesses.
When Do You Choose Import Documentary Collections?
The importer wishes to pay with simple procedure and low cost;
If the importer and the exporter co-operate well and have a mutual understanding, then D/P can be used;
If the importer and the exporter co-operate for a long time and have a mutual trust, but the importer faces a temporal strain in cash and wishes the exporter to allow a later payment, then D/A can be used.
Under D/P collection, Please provide the following documents: payment order, notice of payment/acceptance and etc;
Under D/A collection, please follow our procedures to make acceptance and effect your payment at the maturity date;
If you are unable to effect a payment due to a temporal shortage of funds, you can apply for our finance service such as import bill advance.