For Corporate Clients
Collection
You trust your partner-buyer, yet you want to control payment against the commodity, we offer a simple foreign trade payment instrument i.e. collection.
Collection is a simple payment document, whereby the exporter (seller) transfers through the bank documents to the importer (buyer), in view of receiving payment. The bank does not assume any payment liability and acts solely in the capacity of an agent/transferor of documents.
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1. Collection issued by Customer’s order (Seller’s Collection)
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1.1 Issuing collection orders
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0.2%, minimum AMD 20,000 maximum AMD 250,000
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1.2 Amending collection order
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AMD 25,000
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2. Collection issued in the name of client (Buyer’s Collection)
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2.1 Notice of collection order (or amendment thereto)
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AMD 15,000
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2.2 Payment/acceptance of collection order
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0,1%, minimum AMD 7,500, maximum AMD 50,000
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Mailing/communication expenses are charged at the amount of their actual costs
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Collection services are provided to the account-holding clients of the bank.
Advantages of collection
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In case of collection, documents are delivered under the Bank’s supervision against simultaneous payment or acceptance.
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Collection is regulated by Uniform Rules of International Chamber of Commerce.
Ways of Collection payment
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D/P – Document against Payment
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D/A – Document against Acceptance
Updated 24.10.2019, 15:04