Documentary Collections

Documentary Collections provide a simple and cost effective solution for trading partners normally with a well established relationship. They allow the importer and exporter to maintain a certain level of control over the goods whilst at the same time, speeding up the process of the exchange of goods and funds.

A quick glance 

Typical documents within a collection would include a bill of exchange and various shipping documents (invoice, transport document, insurance policy) which are needed for taking delivery of the goods

• Documents are released in exchange for immediate payment or against acceptance of a bill of exchange

For the exporter

• Lombard will forward your shipping documents to the importer’s bank for collection of payment on presentation of the documents to the buyer
• As an exporter, you should ensure that all documents are in order, to facilitate importation of goods at the country of destination in accordance with any local import regulations
• Retains control of goods until payment or acceptance is made

For the importer

• Notification by Lombard that shipping documents have been received to customer’s order together with the terms and conditions of the collection
• Can view documents before payment or acceptance of bill of exchange
• On payment, Lombard would remit funds to exporters in accordance with their instructions