Documentary Collections are useful when importing from or exporting to another party, where you have an established trading relationship but require some bank assistance in offering limited protection to the seller.
Features at a glance
Import Documentary Collections
As an importer, ANZ can receive and advise you of collection documents received from your overseas suppliers. ANZ can assist you through the collection process, remit funds to the overseas party on receipt of payment from you, and advise acceptance of the collection for subsequent payment on due date. Upon payment or acceptance in accordance with instructions received, ANZ can release the transport documentation to allow you to collect your goods.
Export Documentary Collections
As an exporter, you can ask ANZ to arrange a collection of export proceeds from overseas buyers on your behalf. This process facilitates the collection and return of proceeds in accordance with the your instructions. ANZ acts as a collection agent by facilitating the transaction pending payment. You are able to retain control of goods until payment or a promise to pay under an accepted term Bill of Exchange is received. This means for term collections the buyer has control over the goods after acceptance and you are therefore reliant on the importer's ability to pay on the future date. The process is time and cost effective which enables you to focus on other core activities.
To find out more, visit our ANZ Hagatna branch or call
You need Adobe Reader to view PDF files. You can download Adobe Reader free of charge.