FAQ about CollectionsFAQ about Collections

Frequently Asked Questions
Do I have a guarantee for payment as an exporter?

No, trading on a collection basis means that documents will not be handed over until payment has been made or a draft has been accepted, but in contrast to a documentary credit, the buyer is not obliged to pay or accept a draft.

Which documents must I present as exporter?

There is no simple answer as to which documents may be presented under a collection - it depends on what you have arranged with the buyer. However, typical documentation includes a bill of lading (or a transport document), invoice, certificate of origin, insurance certificate (if required) and bill of exchange.

Can payment wait until the arrival of the goods?

The international rules for collections do not stipulate when the importer must make payment. Therefore you can certainly defer the payment until the goods arrive unless you have arranged otherwise with the seller.

Can I, as importer, waive the charges?

The importer cannot waive charges under a collection if the collection instructions state that this is not permitted.

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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

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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: london.info@uk.danskebank.com. 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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