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Documentary Remittances

Documentary Remittances

The exporter guarantees control of the goods until payment is collected or until acceptance by the importer of an instrument (bill of exchange, promissory note, etc.)

  • Greater security with payments.
  • If the foreign customer does not pay, the exporter has an executive document, an accepted bill, in order to claim the payment.

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Along with the financial documents (bill of exchange or promissory note), the exporter sends your bank specific commercial documents proving ownership of the goods in question (bill of lading, transport document, sales invoice, etc.) with precise instructions to be given to the importer against payment or acceptance of the instrument. This means that the exporter will not transfer the ownership of the sold goods to the buyer until the latter accepts the payment.

Advantages for you as exporting company and importer:

  • You will retain ownership of the goods until they have been paid for or the financial document has been accepted.
  • Save time to the occupy your financial institution of the processing of the documents.
  • As the importer, you have control over the payment.