The collection service is an operation, where the bank submits documents to the buyer on behalf of the supplier and claims indicative payments.
By using the collection service, the seller can receive the relevant payment as soon as the goods are shipped, while the buyer can pay to their bank after receipt of the goods.
Collection service is one of the relatively easy, low cost and fast banking services that is suitable for foreign trade customers.
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COLLECTION SERVICE |
Fees and commission |
| Advising of collection |
USD 10.00 |
| Advising of refusal to make payment or receiving of documents |
USD 10.00 |
| Receipt of amendment to collection instruction |
USD 10.00 |
| Release of documents against payment |
USD 30.00 |
| Release of documents against acceptance |
USD 5.00 |
| Release of documents against other instruction(s) |
USD 50.00 |
| Payment against acceptance |
USD 25.00 |
| Returning of unpaid documents |
USD 10.00 |
| Dispute regarding unpaid draft |
USD30.00 + other charge |
| Release the underlying goods sent to the disposition of bank |
USD 20.00 |
We are keen to work together to provide you with valuable financial advice and bring your business up to international business standards, from the time that you sign a trade agreement until receive your goods as an importer and receive payment for the goods that you sell as an exporter.
Please contact us at tfd@transbank.mn