With the “import documentary collection”, Agribank helps business customers operating in international import business in the receiving, inspection, notification of documents according conditions attached and arranges payment for customers.
Main features
-
Customers
can make choices between the following methods of collection:
- Documents against payment, D/P
- Documents against acceptance,
D/A
- Documents on other terms and
conditions, D/OT
Benefits
-
Lower
transaction cost compared to Letter of Credit
-
Demand
for foreign currency for payment is fully facilitated
-
Agribank
selectes foreign banks in receiving, processing and forwarding documents
quickly and safely
-
Agribank
provides advice on foreign exchange markets and other services related to
imported goods.
How
it works
-
For
collection under D/P: customers make full payment into bank account to receive
import documents
-
For
collection under D/A: import documents are released to customers against their
acceptance to pay (in writing) or acceptance of draft drawn by the exporter for
payment on maturity date
Fees
-
Fees
apply according to current Schedule of Fees and Charges of Agribank
Delivery
channels
-
Agribank
branches/transaction offices.
Technology
applied
-
Agribank
uses automated accounting system.