Documentary-/ Exchange Collection | Austrian Anadi Bank


Documentary-/ Exchange Collection

What is Documentary Collection?

A documentary collection enables the exporter to forward specific documents (e.g. invoices, transport documents) to the importer's bank (collecting bank) via their house bank and to hand them over upon payment or the acceptance of a bill of exchange.

Here, the exporter profits from the fact that the importer is only granted possession of the documents necessary to gain access to the goods delivered by the exporter upon payment or the acceptance of a bill of exchange by the importer. In contrast to a letter of credit, documentary collection does not constitute a bank's obligation to pay. The risk of purchase remains with the exporter.

In exchange collection the only document issued to the drawee by the collecting bank is a bill of exchange which can either be directly paid or accepted. Both documentary collection using a bill of exchange or pure exchange collection should only be used in business relationships with countries that guarantee great legal security and/or with customers with flawless credit rating.

Collection order for documentary credits / bills
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