It's your chance to benefit from SNB's knowledge of local market practices and sources of funding
Definition of Documentary Collection:
It is a payment method by which SNB collects payments on behalf of the seller by delivering the documents to the buyer. It is used when the buyer and seller are already familiar with each other and have a good degree of trust.
Documentary Collection Benefits:
Both seller and buyer benefit from our offering of documentary collection as below:
· SNB documentary collection service is an alternative to opening accounts or cash advances
· Easy steps
· Lower fees
· Less requirements
· The title of the goods is not transferred to the buyer until payment is complete or accepted by the buyer to be paid in a later date.
· SNB also offers an even more secure Documentary Collection Service called 'Avalization of drafts', which means bills of exchange, whereby SNB guarantees the payment at maturity of the drafts accepted by the buyer.
· Our Trade experts will provide you with advice on any aspect our SNB Documentary Collections Service.