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Documentary collections

Documentary collections

NORVIK BANKA offers clients who are dealing with export and/or import of goods the opportunity to use documentary collection. Documentary collection is a documentary payment form widely used in international trade. The exporter´s bank by the order of the exporter sends the documents by post to the importer through his bank. The documents are issued to the importer against payment or acceptance of a Bill of Exchange. An exporter should know that the banks do not undertake the payment liabilities while dealing with documentary collections. Therefore, documentary collection is usually used between trusting partners.

  • NORVIK BANKA acts on the instructions of the foreign exporter´s bank, i.e. issues the documents to the importer against the payment or acceptance of Bill of Exchange.

For exporters:

  • Clients of NORVIK BANKA who are exporting goods submit a file_pdfCollection Order and documents to the bank. NORVIK BANKA acts on the instructions of the foreign exporter. The Bank credits the exporter´s account with the proceeds received from the importer´s bank.