Saudi Arabia
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Export Documentary Collections
Why is this payment method right for you?
A documentary collection:
- Is 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
How Documentary Collections Work
- 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
- If you require a guarantee of payment from your buyer’s bank then you need to request for an avalisation from them.
- Always check a buyer's credit status and reputation before agreeing to a Documentary Collection.
Other Useful Information and Services
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Or..
- Visit the nearest Branch...
- Call us..on Toll Free: 800 124 5666 within the Kingdom or +966 (0)1 405-2066 from a mobile/abroad
- Register in SABBNET "Internet Banking Services" and enjoy preferential fees
