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For Exporters
Export Collection Services
Export Collection Services help collecting payment from your
buyers.
Collections are a cost-effective, relatively safe and widely-used means of trading internationally.
Let Standard Chartered help you simplify the administration of your export collection, know when payment is due, track outstanding export collections, and make reconciling receivable easy.
Standard Chartered's Export Collection Services allows you to manage transactions and gives you added peace of mind that Standard Chartered is working for you.
Export
Collection Services benefits to you:
- you
can enjoy greater certainty in collecting payment from
buyers
- you
are in a better position to explore new markets and business
opportunities overseas with our support to help you
manage and control risks
An
Export Collection takes one of three forms:
Documents
Against Payment
The documents (invoice, transport document etc.) are released
to your buyer only when the buyer pays the amount due. The
buyer can inspect the documents before agreeing to pay for
them. The buyer may refuse to pay for the collection in which
case their bank would withhold the documents. For Documentary
Collections, "documents against payment" offers
you the most protection as there is the possibility of constructive
control over the goods.
Documents
Against Acceptance
The
documents are released to the buyer when the buyer accepts
a bill of exchange for payment at a later date. There is still
a chance, however, that the buyer may default on the bill
when it matures. To reduce this risk, you can ask for the
buyer's bank to guarantee payment before it releases the documents.
Should it agree to do so, the buyer's bank gives its own payment
undertaking to the bill. The buyer's bank will only give the
undertaking after the goods have been dispatched, and there
is nothing to compel the buyer or their bank to accept the
bill of exchange. In "documents against acceptance",
the buyer must accept a payment obligation before the documents
are released to them.
Clean
Collection
The buyer's
bank presents a bill of exchange to the buyer. The commercial
documents are sent directly by you to the buyer. This is the
least secure of the Documentary Collection methods
 For
Exporters
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