Saudi Arabia
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Import Documentary Collections
Why is this payment method right for you?
A documentary collection
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Is a cost-effective and secure way to trade internationally.
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Enables you to receive goods before payment.
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Eliminates the need for credit facilities if no bank finance is required on payment.
Other Benefits
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A simpler alternative to Documentary Credits.
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Reduces payment risk for your supplier at minimal cost to you
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You pay for goods only when you are happy that the shipping documents – such as invoices, insurance certificate and bills of lading – are as stipulated in the underlying commercial contract.
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Gives you access to goods without delay
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Suppliers are paid as soon as your account is debited with no hidden interest or payment delays
How Does a Documentary Collection Work?
Having shipped the goods, your supplier presents the necessary documents, together with their instructions, to their bank which forwards the documents to your bank for payment. With a Documentary Collection against payment (D/P), import documents are released to you on payment. With a Documentary Collection against acceptance (D/A), the documents are released to you against your promise to pay. If your supplier requires a bank guarantee of payment then a request for avalisation must be included in the collections instructions. This guarantee can only be provided if you have pre-arranged such credit facilities with the bank.
Ready to apply?
Now
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
