Documentary collections
Save costs and receive payments faster with ING’s documentary collection solutions. Whether you are an importer or exporter in international trade, our documentary collection provides a streamlined solution and reduces your administrative burden.
Best suited for established and ongoing partnerships in economically and politically stable markets
Cost-effective with fewer banking fees and less paper work
Flexibility for both seller and buyer with quicker payment transaction
Why choose documentary collection as an exporter
Better control
Until you receive payment or accept a future payment date, you retain control over the goods.
Higher security
You get higher security than an open account.
Enhanced liquidity
Receive payments faster from the buyer and enhance your own liquidity.
Why choose documentary collection as an importer
No advance payment needed
You can avoid the need for an advance payment, making sure that your credit line is unaffected.
Peace of mind on your order
Assurance that your goods are on their way to the correct port. The goods will not be discharged before the payment.
Safer and more affordable
Compared to pre-payment, it's a safer option, and it's also less expensive than a letter of credit.
How does our documentary collection solutions work?
- The exporter submits document and collection order via ING
- Once the collection has been accepted and paid, the importer takes control of the documents and the goods
- The trade is successfully completed with the importer receiving the goods in the right quantity and quality, while the exporter receiving funds securely
- ING can assist both importer and exporter as either an remitting bank or a collecting bank
Trade with confidence with ING
Discover the flexibility and efficiency of our documentary collection solutions. We are here to safeguard your trade and reduce the risks so you can focus more on business growth.
Contact your ING representative for more information.