As an exporter, a letter of credit will remove your risk on the buyer , but issues of timing and payment in a desired currency remain. Commercial Bank's confirmation eliminates your exchange and cross border political risks and reduces your collection float by additionally ensuring payment when terms of shipment are complied with. If desired, we may also offer discounting pre-payment. Our experience of the importer's market enables us to price the risk we assume fairly, based on our knowledge of local conditions.
Inward Bills for Collection (IBC)
- One of the methods facilitating International Trade for obtaining payments is collections and is based on a high degree of trust between the seller and the buyer.
- Handling of Collections in banks worldwide are governed by “Uniform Rules for Collection” - ICC publication no. 522
- Inward Bills for Collection Department acts as an agent for collection and must follow remitting bank instructions for releasing documents to drawee
Outward Bills for collection
- One of the methods faciliting international Trade is handling of export documents which are presented to the Bank by the Seller/Exporter to release documents to the buyer and collect payment from buyer’s bank through our correspondents banks.
- Handling of Collections in banks worldwide are governed by “Uniform Rules for Collection” - ICC publication no. 522