For the importer
- A collection helps the importer minimise the risk of the exporter not fulfilling the delivery terms.
- In import documentary collection, the importer can review the documents received before payment.
- Lower costs than for an import letter of credit.
For the exporter
- They provide certainty to the exporter that the documents will be delivered to the importer upon payment or acceptance.
- Lower costs than for an export letter of credit.
Sending of collection documents
Tokuda Bank processes collection documents according to the exporter’s written instructions, as stated in an Application for sending of documents for collection. The Bank has no engagement for payment to the exporter – that obligation remains with the buyer.
Receipt of collection documents
Tokuda Bank advises its clients of the receipt of collection documents from domestic and foreign banks and offers professional consultations.
Charges and Commissions
All charges and commissions relating to the processing documents sent and received for collection are stated in the section Documentary Operations of the Tariff.
The processing of documentary collections, Tokuda Bank follows the current ICC Uniform Rules for Collections.