Documentary Collections

Secure your international trade transaction journey affordably

Overview

A documentary collection is a trade transaction in which the exporter hands over to their bank the task of collecting payment for goods from the importer’s bank. The exporter’s bank sends the goods shipping documents to the importer's bank together with the payment instructions.

The export documents are only released to the importer against two conditions.

  • Documents against Payment Collection (D/P): The importer receives the goods delivery documents only against payment.
  • Documents against Acceptance Collection (D/A): Delivery documents are handed over against acceptance of a bill of exchange or a promise of payment at a specified time.

BANK OF AFRICA can act as a collecting bank for an exporter or paying bank for an importer.

MULTI-CURRENCYMulti-currency funding in currency of the payment obligation
TRADE SECURITYSafer trading option compared to open account (paying cash to supplier)
Flexible PlanFlexible and affordable repayment periods up to 12 months
ANNUAL LIMITSAnnual financing limits available to reduce delays in processing of your recurring trade finance requests
TAILOR-MADE STRUCTURETailor-made credit structure according to your business cycle
QUICK ProcessingQuick application processing

What You Get

  • Securely enter a trade by reducing certain risks, such as goods arriving late or not meeting specifications
  • Importers can check the review copies of the shipment documents before payment
  • Importers can make the payment after they receive the documents from their banks by accepting bills of exchange
  • Access financing to purchase goods in a way that matches up with your domestic cash flow requirements
  • It is less expensive and less complicated than a letter of credit
  • Free up available working capital by negotiating more favorable commercial terms with suppliers and benefit from prepayment elimination
  • There when you need it. No delays. Enjoy flexibility allowing access to funds when you need them most matched to your specific trade flows
  • Contact us today and explore our tailor-made and affordable credit pricing options

Download our services and products pricing guide for more information.

Ways To Apply

OPEN A Corporate AccountFill out your secure corporate account application in under 20 minutes to get started today
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