BSP offers Documentary Collection services to both the Importer and the Exporter.
For the importer BSP receives the Documentary Collection from the sellers Bank and either against payment or acceptance will release the documents to enable the importer to receive their goods. Documents are available for inspection by the importer prior to payment or acceptance.
For the exporter BSP will receive the documents from you and dispatch to the buyer’s Bank for release against payment or acceptance. Upon receipt of payment BSP will credit funds according to your instructions.
By letting BSP handle your documentary collections there is control over the documents and therefore usually the goods which can minimize some of the risks involved in doing business internationally.
Contact your Branch or one of our Relationship Managers to find out more.