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Bills for Collection/Documentary

Bills for Collection/Documentary collection refers to a process, in which a seller instructs his bank to forward documents related to the export of goods to the Wezesha Trust Quality Bank (buyer’s bank) with a request to present these documents to the buyer for payment, indicating when and on what conditions these documents can be released to the buyer.

Features

  • The collection is a straight forward and less expensive mode of settlement
  • Payment is usually quicker compared to open account
  • Documents come with payment instruction
  • Title documents are controlled by the bank
  • Payment is not guaranteed by the bank

Benefits

  • Quick and secure means to transfer funds from abroad
  • Customers have access to foreign currency at very competitive rates
  • Efficient handling of documents by the Bank
  • Simple and convenient