Attendance

Bank Collection

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It is the service of sending the shipping documents of goods to be acquired that are in a collection process in the bank responsible for the import.

Check out how the Bank Collection works in Confidence Exchange.

With Confidence Exchange you have full security in your operations.

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Import – spot exchange:
1. Confidence Exchange receives the collection from Exporter and notifies Importer;
2. Importer closes the exchange rate with Confidence Exchange;
3. Confidence Exchange delivers the documents for shipment to the Exporter;
4. Confidence Exchange settles the transaction;
5. Importer clears the merchandise.

Import –  long-term exchange:
1. Confidence Exchange receives the collection from the Exporter and warns the Importer;
2. Importer withdraws and accepts billing billing payment;
3. Confidence Exchange delivers the documents for shipment to the Exporter;
4. Importer clears the merchandise;
5. Confidence Exchange notifies the foreign bank and at the collection expiry date notifies the Importer about the payment;
6. Importer closes the exchange rate with Confidence Exchange and subsequently the transaction is carried out and settled.

For export:
1. Confidence Exchange receives the documents for shipment from the Exporter and sends instructions to the foreign bank for collection;
2. Confidence Exchange receives the payment from the Importer and warns the Exporter;
3. Exporter closes the exchange rate with Confidence, which settles the transaction.

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