Hotline : 

  • 0061-2-8235 5888(From Overseas)
  • 1800 095 566(Within Australia)
Current Position : Home > BOC Australia > Corporate Banking > Trade Services > Trade Settlement
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Inward Collection

Entrusted by a foreign correspondent bank or an affiliated bank, and according to their instructions, the Bank collects import payments and delivers relevant commercial documents to the importer. There are two types of inward collection: D/P and D/A. Under D/P terms, import documents are released to the importer against payment. Under D/A terms, documents are released to the importer against acceptance.

FEATURES

•Low cost. Low banking fees, help reduce financial expenses and control the costs.

•Easy to use. Simple procedures and easy to use compared to L/Cs.

•Reduce funds occupation. No advance payment required when the exporter prepares and ships the goods, the goods documents can be obtained immediately and the goods become disposable upon payment or acceptance.

•Improve cash flow. with D/A, the importer can immediately obtain the goods document and dispose the goods after acceptance, and can make payments later as the inflow of cash are generated by the sale of goods. With almost no occupation of funds, the company’s financial position and solvency can be greatly improved.