Import (Documentary collection)Import (Documentary collection)

    When your company uses collections as a method of paying for imports, the bank has control over the goods through the shipping documents relating to the goods. These documents can only be delivered to your company when you have paid the amount due or signed a bill of exchange that falls due at a later date. Note that the banks have no obligation to make payments.

    Advantages of using collection when paying for imports

    • A payment or commitment to pay is made only upon receipt of the relevant documents by your bank.
    • You can decide not to accept or pay the collection.
    • Your banking facilities are not affected unless the seller asks that an accepted bill of exchange be guaranteed by your bank.
    • The importer's bank will effect payment on the importer's behalf rather than the importer having to make payment by international money transfer or bank draft.

    You should be aware, however, that according to the international rules for collections, banks are not responsible for the authenticity or correctness of the documents or for the condition of the goods.

    Release of goods

    The goods sometimes arrive before the documents. When the goods are consigned to the Bank, the importer can take possession of the goods if the Bank releases them and the importer provides an indemnity to the Bank.

    To obtain the release of the goods, the importer makes a commitment to pay for or accept the documents immediately upon presentation. 

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    Danske Bank A/S
    London Branch,
    75 King William Street
    London EC4N 7DT
    United Kingdom

    Tel: +44 (0)20 7410 8000
    Fax: +44 (0)20 7410 8001

    Sort Code: 30-12-81

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    Want to know more?Want to know more?

    Trade & Export Finance products and services

    Read More about our trade & export finance products and services in these booklets (PDF):

    Download factsheet on Documentary Credits
    Download factsheet on Int'l Guarantees
    Download factsheet on Collections
    Download factsheet on Business Online

    To read PDF documents, download Adobe Reader®

    Document Checklist
    What to look out for in every document involved in the documentary credit process:

    Danske Bank A/S, London Branch, 75 King William Street, London EC4N 7DT, United Kingdom. Telephone: +44 (0)20 7410 8000 Facsimile: +44 (0)20 7410 8001 E-mail: VAT number: 853 7590 92. Danske Bank A/S, London Branch is authorised by the Danish Financial Supervisory Authority (Finanstilsynet) and is subject to limited regulation by the the Financial Conduct Authority and the Prudential Regulation Authority. Complaints should be addressed to our Legal Department. Details on the extent of our regulation by the Financial Conduct Authority and the Prudential Regulation Authority are available from us on request. Registered Branch in England and Wales, Company No. FC011846, Branch No. BR000080. Danske Bank A/S, Incorporated in Denmark, CVR No. 61 12 62 28 Copenhagen. Our details can also be viewed on The Financial Services Register under Firm Reference Number 124655.

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