These are issued when there is a certain level of trust and experience between the importer and exporter.
In order to acquire ownership, the importer pays or signs a negotiable instrument.
The seller instructs his/her bank to forward the documents related to the operation to the buyer’s bank indicating when and on what conditions these documents can be released to the buyer.
1. Simple Collection
When no commercial documents are included (i.e. check, bill of exchange)
2. Documentary Collection
In addition to negotiable instruments, it always includes commercial documents like an Invoice and Shipping Documents
Contact our Letters of Credit department
Provide collection instructions
Instruct your suppliers that collection documents on behalf of their bank should be addressed to Monex, Letter of Credit Department