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
As an importer, ANZ can receive and advise you of collection documents received from your overseas suppliers. We can assist you through the collection process, and remit funds to the overseas party on receipt of payment from you, or advise acceptance of the collection for subsequent payment on due date. Upon payment or acceptance in terms of instructions received, we can release the transport documentation, to allow you to collect your goods.
Exporters can ask ANZ to arrange collection of export proceeds from overseas buyers on their behalf. This process facilitates the collection and return of proceeds in accordance with the exporter’s instructions. ANZ acts as a collection agent, facilitating the transaction pending payment. The exporter retains 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 the exporter is therefore reliant on the importers ability to pay on the future date. The process is time and cost effective, enabling the exporter to focus on other core activities.
To find out more, visit our ANZ Hagatna branch or call
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