The collection process

Collection process

The contract stating the payment method and shipment terms is made between the importer and exporter.
The exporter sends the documents to it’s bank with instructions for delivery.
The exporter's bank sends the documents to the importer's bank together with the exporter’s instructions. The documents can be released to the importer only against payment, except in the case of a term bill of exchange. In this case, the instructions usually stipulate that the documents are to be released against acceptance of the bill with subsequent presentation for payment on the due date.
The importer's bank hands the documents to the importer on payment or acceptance of a bill of exchange.
The exporter receives payment.

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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

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Sort Code: 30-12-81

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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 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: 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 Financial Services Authority. Details of the extent of our regulation by the Financial Services Authority are available from us on request. Member of the London Stock Exchange. 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.

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