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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 importerís 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 customerís 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

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