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.
Click here for Lodgement Authority Export Documentary Collection
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.
Our Internet-based TradeXchange system, part of the Bank of South Pacific Limited's trade business portal, allows you to process direct, outgoing and incoming documentary collections electronically and store data until the transaction is paid.
To find out more or register for BSP Online TradeXchange go to the Online TradeXchange page click here
*Customers will need to have an established commercial banking relationship with BSP
For more information
Contact your Relationship Manager or BSP Trade Finance +(675) 305 7855 or email: BSPTradeFinance@bsp.com.pg
You can also refer to the following fact sheets: