Use BCGE documentary collections as supporting payment instruments. You will get greater security than with simple payment against invoice in commercial operations.
Documentary collections: a more secure supporting payment instrumentA documentary collection is the means whereby a bank collects the amount due from a buyer, against presentation of documents. The bank carries out the function of agent and intermediary between the exporter and the importer. It presents the importer, on instructions from the exporter or its bank, documents indicating the shipment of goods or the provision of a service, in consideration for which it receives the amount due or an accepted bill of exchange.
ConditionsThe banks' responsibility is limited essentially to sending and delivering documents against payment or acceptance of a bill of exchange, unlike a documentary credit, where they have made a commitment. The banks are in no way obliged to pay out themselves if the buyer does not fulfil or is prevented from fulfilling its payment obligations.
Handling documentary collections is subject to the uniform regulations governing documentary collections published by the International Chamber of Commerce in Paris.