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Documentary Collections
Why is this export service right for you?
- A more secure way to trade
- Protects your interests if your buyer does not issue Documentary Credits (DCs)
- Puts you in a position to negotiate better terms and prices
Other benefits
- Simple and cost effective
- Documents and payment collections are handled on your behalf
- It's easier and cheaper for buyers to receive Documentary Collections than to issue DCs
- Reduces disputes as Documentary Collections are governed by URC522 which clearly defines the responsibilities of different parties, along with interest and expense issues
- Access to HSBC's international network makes it easier to chase outstanding payments
Potential risks
- Because payment is not made until after the goods are shipped, you bear the risk while goods are in transit or storage until payment or acceptance takes place
- The banks involved in the transaction do not guarantee payment
Always check a buyer's credit status and reputation before agreeing to a Documentary Collection.
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