Documentary/Bills For Collection

This refers to a process, in which a seller instructs his bank to forward documents related to the export of goods to NIB Ltd (buyer’s bank), with a request to present these documents to the buyer for payment, indicating when and on what conditions these documents can be released to the buyer (Sight and or Acceptance).

  • The collection is a straight forward and less expensive mode of settlement.
  • Payment is usually quicker compared to open account.
  • Documents come with payment instructions.
  • Title documents are controlled by the bank.
  • Quick and secure means to transfer funds from abroad.
  • Customers have access to foreign currency at very competitive rates.
  • Efficient handling of documents by the Bank.
  • Simple and convenient.
  • Importers
  • Exporters
  • Visit any of our branches nationwide to for an application form (Customer request).
  • Submit the form together with the following documents:
    1. Commercial Invoice.
    2. Import Declaration Form (IDF).
  • NB: Customs Clearing Documents (Bill of Entry) to be submitted after goods cleared.
Click here for Letters Of Credit (LC) / Documentary Credits