Documentary Collections-i

A trade settlement service rendered by banks who acts as intermediary to "collect" payment from the importer/buyer for goods which the exporter/seller has already sent.

Trade settlement by Documentary Collection - i^ mitigates risk for both importer and exporter and risk of delay in receipt of payment by exporter.

You can choose either:

• Documents Against Payment
  - Documents are released against payment from the buyer
• Documents Against Acceptance
  - Documents are released upon acceptance of draft by the buyer which signifies   an undertaking by the buyer to pay upon maturity.

Other services under Documentary Collections - i^:-

• Avalisation - means Collecting Bank’s guarantee to pay the bill of exchange drawn by the seller/exporter on the importer/buyer based on Shariah concept of Kafalah (guarantee).

Why choose Documentary Collection - i^?

• It helps mitigate risk faced by importers and exporters for transactions not on documentary credit term.
• Under Documents against payment, exporters have control over the goods as documents will be released only upon full payment.

^ Based on shariah principle of kafalah