Documentary collection is a procedure for payments consisting in that the Bank collects the amount payable by a Purchaser to a Seller against a presentation of appropriate documents.
Documentary collection provides for a higher security of payments since it makes it impossible for a Purchaser to appropriate commodities with he has not paid for yet.
The Bank plays a role of an agent for cash payments between an Exporter and Importer. The Bank presents to the Importer, according to an instruction of the Exporter or the bank of the Exporter, documents confirming a shipment of goods or rendering of services and collects the due amount or receive an acceptable bill against such documents.
Kreditprombank serves import and export collection.
Export collections are applied to the payments for exported commodities and rendered services and are sent, at a request of Ukrainian exporters, to the address of a foreign bank for their further payment.
Import collections are applied to the payments for imported commodities and rendered services and are sent by foreign banks to the bank of the Importer for further payment.
WHY KREDITPROMBANK?
Kreditprombank offers optimal solutions of payment procedures under contracts.
Documentary collection