Export documentary collection is a conditional form of trade settlements initiated by exporter. Your company orders Bank Millennium to issue to your counterparty (importer) through its bank the trade documents authorising to collect goods in return for payment or securing future payment (for instance, through acceptance of bill of exchange).
- You will eliminate the risk of releasing goods without payment or without securing future payment (for instance, through acceptance of bill of exchange).
- You will mitigate the risk of not being paid for the goods sent.
- You will reduce costs ― the documentary collection is cheaper than documentary letter of credit or bank guarantee.