Document collection - what is it?

Document collection ist eine Zahlungsbedingung im Außenhandel. Der Exporteur beauftragt dabei seine Hausbank einem Importeur bestimmte Dokumente nur auszuhändigen, wenn dieser im Gegenzug eine Zahlung leistet, einen Wechsel akzeptiert oder ein unwiderrufliches Zahlungsversprechen unterzeichnet.

What is document collection?

Payment against document collection is agreed in the sales contract between the exporter and the importer. The exporter's house bank receives the order for the document collection together with the collection documents. These documents are documents accompanying the goods, such as certificates of origin, commercial invoices, transport documents or health certificates that the importer needs when importing.

Depending on the characteristic of the consideration provided by the importer, a distinction is made between the three different types of document collection. With "Documents against payment", the documents are only handed over against payment. If “Documents against acceptance” is agreed, the exporter accepts a bill of exchange and payment is due at a later point in time. With the variant of the "Documents against irrevocable payment order", the importer signs an irrevocable payment order before receiving the collection products.

Advantages and disadvantages of document collection

Document collection promises security for both exporter and importer. In this way, the exporter secures receipt of payment for his goods. This gives the importer the assurance that he will receive the goods that he has ordered. However, document collection does not guarantee the quality of the goods. In addition, with the "Documents against acceptance" variant, there is a risk for the exporter that the importer will receive the goods, but his account may not have sufficient funds at the time of payment. The payment will not be carried out.

Summary

  • Document collection is a payment condition agreed in the sales contract between the importer and the exporter.
  • Collection documents are important documents accompanying the goods that the importer needs for import.
  • The importer receives the collection documents against payment, acceptance of a bill of exchange or the signature of an irrevocable promise to pay.
  • The exporter receives payment security through the document collection.
  • The document collection gives the importer the security of receiving the goods he has ordered.
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